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Malaysia's Plantation Industries Minister Mah Siew Keong criticises the European Parliament environment committee's October 23 vote to ban palm oil-based biofuels under the Renewable Energy Directive. He argues the ban would be discriminatory, risk a WTO challenge and harm EU trade relations.
A possible EU ban on palm oil biofuel feedstock would reduce European palm oil demand and pressure Malaysian and Indonesian prices, with potential knock-on effects on palm-based feed and oilseed markets.
euractiv.comMah Siew KeongNov 7, 2017After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), and -0.5% 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.
