# MEPs call for measures to stem deforestation for palm oil | AGENCE EUROPE

> The European Parliament's environment committee adopted a report by 56 votes to 1 calling on the EU to halt palm oil-driven deforestation. The report urges a phase-out of palm oil in biodiesel by 2020 and a single certification system for imports. It notes that 45% of EU palm oil imports go to biofuels.

- Date: 2017-03-08 · published 2017-03-08T12:00:00.000Z
- Category: policy · region EU · magnitude medium
- Page: https://feedsoft.ai/events/72015-meps-call-for-measures-to-stem-deforestation-for-palm-oil-agence-europe
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A committee position is not yet law, but a phase-out of palm oil in EU biofuels would cut a major source of demand and weigh on palm oil prices. Substitution toward rapeseed and soy oil could support those vegetable oils.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-09-11 | [European Parliament calls for tangible EU measures to help put an end to deforestation \| AGENCE EUROPE](https://feedsoft.ai/events/63050-european-parliament-calls-for-tangible-eu-measures-to-help-put-an-end-to.md) | -1.2% | -3.7% |
| PALMOIL | 2023-01-16 | [MEPs approve Parliament/Council agreement on ‘imported deforestation’ EU regulation \| AGENCE EUROPE](https://feedsoft.ai/events/37812-meps-approve-parliament-council-agreement-on-imported-deforestation-eu.md) | +0.7% | +0.1% |
| PALMOIL | 2019-10-13 | [EU Agriculture Ministers call for more intensive fight against global deforestation \| AGENCE EUROPE](https://feedsoft.ai/events/56582-eu-agriculture-ministers-call-for-more-intensive-fight-against-global.md) | +2.2% | +18.7% |
| PALMOIL | 2017-04-04 | [MEPs call for stricter rules on palm oil \| Greens/EFA](https://feedsoft.ai/events/71527-meps-call-for-stricter-rules-on-palm-oil-greens-efa.md) | -2.0% | -2.1% |
| PALMOIL | 2023-03-07 | [EU deforestation rules may hurt palm oil exports beyond Europe, warns minister](https://feedsoft.ai/events/36905-eu-deforestation-rules-may-hurt-palm-oil-exports-beyond-europe-warns-minister.md) | -4.9% | -9.1% |
| SBO | 2024-10-03 | [EU proposal to delay anti-deforestation rule bullish for palm oil: analysts \| S&P Global](https://feedsoft.ai/events/7240-eu-proposal-to-delay-anti-deforestation-rule-bullish-for-palm-oil-analysts-s.md) | +0.1% | +3.6% |
| SBO | 2017-04-04 | [MEPs vote in favour of Own Initiative Report on Palm Oil and Deforestation of Rainforests - Fern](https://feedsoft.ai/events/71528-meps-vote-in-favour-of-own-initiative-report-on-palm-oil-and-deforestation-of.md) | -0.2% | +3.0% |
| SBO | 2019-11-23 | [Palm Oil News - Palm Oil Sues European Union](https://feedsoft.ai/events/56090-palm-oil-news-palm-oil-sues-european-union.md) | -3.0% | +9.4% |

## Sources

- agenceurope.eu: https://agenceurope.eu/en/bulletin/article/11742/8/meps-call-for-measures-to-stem-deforestation-for-palm-oil

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