# EU Parliament ends palm oil and caps crop-based biofuels at 2017 levels

> The European Parliament voted to phase out palm oil in EU biofuels by 2021 and cap crop-based biofuels at member states' 2017 consumption levels, with no more than 7% of transport fuels until 2030. Countries below 2% crop-based biofuel use may raise their cap to 2%.

- Date: 2018-01-17 · published 2018-01-17T12:00:00.000Z
- Category: policy · region EU · magnitude high
- Page: https://feedsoft.ai/events/67010-eu-parliament-ends-palm-oil-and-caps-crop-based-biofuels-at-2017-levels
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A cap on food-based biofuel use removes a key source of vegetable oil demand and directly targets palm oil. This is bearish for palm oil and soybean oil prices and signals a long-term shift away from crop-based biodiesel feedstocks.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-03-10 | [Parliament committee says palm oil biofuels usage should end by 2020](https://feedsoft.ai/events/72017-parliament-committee-says-palm-oil-biofuels-usage-should-end-by-2020.md) | -0.9% | -4.5% |
| PALMOIL | 2017-03-10 | [MEPs demand ban on crop-based biofuels \| ENDS Waste & Bioenergy](https://feedsoft.ai/events/72016-meps-demand-ban-on-crop-based-biofuels-ends-waste-and-bioenergy.md) | -0.9% | -4.5% |
| PALMOIL | 2017-04-11 | [Indonesia and Malaysia look to ‘kill’ Parliament’s palm oil ban](https://feedsoft.ai/events/71391-indonesia-and-malaysia-look-to-kill-parliament-s-palm-oil-ban.md) | -1.8% | +2.1% |
| PALMOIL | 2017-09-27 | [SPEEDA \| Indonesian and Malaysian Palm Oil Industry at Critical Crossroads, given EU Resolution to Ban Palm Oil in Biofuels by 2020? \| SPEEDA](https://feedsoft.ai/events/68831-speeda-indonesian-and-malaysian-palm-oil-industry-at-critical-crossroads-given.md) | -4.3% | -2.0% |
| PALMOIL | 2019-03-15 | [Europe, in bid to phase out palm biofuel, leaves fans and foes dismayed](https://feedsoft.ai/events/60107-europe-in-bid-to-phase-out-palm-biofuel-leaves-fans-and-foes-dismayed.md) | +2.4% | +2.8% |
| SBO | 2019-04-04 | [UFOP :: Crop-based Biofuels with an important bridging function](https://feedsoft.ai/events/59472-ufop-crop-based-biofuels-with-an-important-bridging-function.md) | +0.9% | -5.5% |
| SBO | 2023-06-22 | [Palm extends losses over soybean oil and lower US biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/35581-palm-extends-losses-over-soybean-oil-and-lower-us-biofuel-mandate-markets.md) | +1.7% | +10.0% |
| SBO | 2019-06-14 | [EU biofuel ruling hits prices of palm and coconut oil \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/58690-eu-biofuel-ruling-hits-prices-of-palm-and-coconut-oil-analysis-and-features-the.md) | +2.0% | +0.3% |

## Sources

- euractiv.com: https://www.euractiv.com/section/agriculture-food/news/eu-parliament-ends-palm-oil-and-caps-crop-based-biofuels-at-2017-levels/

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