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Commentary in the Jakarta Post says a proposed EU ban on palm biofuels was rejected in a compromise on the revised Renewable Energy Directive. It notes the EU's RED subsidises renewable transport fuels, including Indonesian palm oil, and that the Commission opposed the ban as unworkable.
Rejection of the palm biofuel ban preserves an important EU outlet for palm oil, supporting palm prices, though anti-palm lobbying is expected to continue.
thejakartapost.comKhalil HegartyJul 6, 2018After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
