# Britain and Europe must tighten palm oil supply chains to save forests, EU parliament told | Palm oil | The Guardian

> Speakers told the European Parliament that Britain and Europe need to tighten palm oil supply chains to reduce deforestation. The article notes the Parliament voted last April to phase out biofuels made from vegetable oils by 2020, followed by a related vote last month, and that the Commission and member states are still considering how this would be implemented.

- Date: 2018-02-23 · published 2018-02-23T12:00:00.000Z
- Category: policy · region EU · magnitude medium
- Page: https://feedsoft.ai/events/66512-britain-and-europe-must-tighten-palm-oil-supply-chains-to-save-forests-eu
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

EU biofuel restrictions on palm oil could cut demand for vegetable oils used in biofuel, pressuring palm oil prices and supporting soybean oil demand as a substitute.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-06-21 | [Sustainability must be the norm in Europe to ensure palm oil and other commodities do not destroy forests - EIA](https://feedsoft.ai/events/64536-sustainability-must-be-the-norm-in-europe-to-ensure-palm-oil-and-other.md) | +0.3% | -5.6% |
| PALMOIL | 2024-03-14 | [EU’s Forest Law Is Splitting Palm Oil Supply Chain Into Two, 3Keel Says - Bloomberg](https://feedsoft.ai/events/31225-eu-s-forest-law-is-splitting-palm-oil-supply-chain-into-two-3keel-says-bloomberg.md) | +1.2% | +3.2% |
| PALMOIL | 2019-05-03 | [Palm oil: an EU ban won’t save Asian rainforests, but here’s what might help](https://feedsoft.ai/events/58958-palm-oil-an-eu-ban-won-t-save-asian-rainforests-but-here-s-what-might-help.md) | -1.4% | -0.6% |
| PALMOIL | 2020-11-10 | [The European Parliament takes a bold stance on legislation to tackle imported deforestation - Fern](https://feedsoft.ai/events/50183-the-european-parliament-takes-a-bold-stance-on-legislation-to-tackle-imported.md) | +3.2% | +6.7% |
| PALMOIL | 2023-04-19 | [Parliament adopts new law to fight global deforestation  \| News \| European Parliament](https://feedsoft.ai/events/36437-parliament-adopts-new-law-to-fight-global-deforestation-news-european-parliament.md) | -1.0% | -8.4% |
| SBO | 2023-01-02 | [Indonesia to tighten palm oil exports to shore up supply ahead of Ramadan - Regulations - The Jakarta Post](https://feedsoft.ai/events/9244-indonesia-to-tighten-palm-oil-exports-to-shore-up-supply-ahead-of-ramadan.md) | -1.9% | -6.7% |
| SBO | 2017-04-04 | [MEPs vote to ban the use of palm oil in biofuels \| Guardian sustainable business \| The Guardian](https://feedsoft.ai/events/71526-meps-vote-to-ban-the-use-of-palm-oil-in-biofuels-guardian-sustainable-business.md) | -0.2% | +3.0% |
| SBO | 2017-03-08 | [MEPs call for measures to stem deforestation for palm oil \| AGENCE EUROPE](https://feedsoft.ai/events/72015-meps-call-for-measures-to-stem-deforestation-for-palm-oil-agence-europe.md) | -4.8% | -6.1% |

## Sources

- theguardian.com: https://www.theguardian.com/environment/2018/feb/23/britain-and-europe-must-ban-palm-oil-in-biofuel-to-save-forests-eu-parliament-told

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