# How Europe can get rid of its palm oil ‘monster’

> Under the updated EU Renewable Energy Directive, palm oil imports are expected to peak next year and then decline from 2023, being phased out by 2030. About 40% of Europe's imported palm oil is used as transport fuel under biofuel mandates.

- Date: 2018-09-10 · published 2018-09-10T12:00:00.000Z
- Category: policy · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/63053-how-europe-can-get-rid-of-its-palm-oil-monster
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A planned EU phase-out of palm oil in biofuels is a structural bearish factor for palm oil demand from Europe, which is a major biofuel feedstock market.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-02-13 | [Minister: Malaysia will retaliate against EU goods in case of palm oil ban](https://feedsoft.ai/events/66372-minister-malaysia-will-retaliate-against-eu-goods-in-case-of-palm-oil-ban.md) | -0.7% | -3.5% |
| PALMOIL | 2019-11-23 | [Palm Oil News - Palm Oil Sues European Union](https://feedsoft.ai/events/56090-palm-oil-news-palm-oil-sues-european-union.md) | +3.4% | +9.1% |
| PALMOIL | 2017-11-02 | [MP: Most European countries against palm oil imports \| Borneo Post Online](https://feedsoft.ai/events/68003-mp-most-european-countries-against-palm-oil-imports-borneo-post-online.md) | -0.6% | -3.2% |
| PALMOIL | 2018-01-18 | [Indonesia, Malaysia condemn European move to limit palm oil use \| Reuters](https://feedsoft.ai/events/67074-indonesia-malaysia-condemn-european-move-to-limit-palm-oil-use-reuters.md) | +0.5% | -0.0% |
| PALMOIL | 2023-03-07 | [EU deforestation rules may hurt palm oil exports beyond Europe, warns minister](https://feedsoft.ai/events/36905-eu-deforestation-rules-may-hurt-palm-oil-exports-beyond-europe-warns-minister.md) | -4.9% | -9.1% |

## Sources

- europeaninterest.eu: https://www.europeaninterest.eu/europe-can-get-rid-palm-oil-monster/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.