Indonesian legislator Edhy Prabowo criticised the European Parliament's palm oil resolution, calling it a black campaign and a threat to Indonesian smallholders. He argued the resolution aims to keep palm oil out of the EU biofuel mix by 2020.
Greenpeace Indonesia said palm oil companies still cause deforestation.
The EU resolution targeting palm oil in biofuels threatens a key export outlet for Indonesian and Malaysian palm oil, which is bearish for palm oil prices if implemented.
After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.