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The European Parliament committee adopted a report urging the Commission to phase out palm oil in biodiesel by 2020 at the latest. Industry has not shown that palm oil in its supply chains is free of deforestation links.
Palm oil used as transport fuel rose 34% between 2010 and 2014.
The report signals a likely reduction in EU biofuel demand for palm oil, which is bearish for palm oil prices. Rapeseed and soy oil could gain as replacement feedstocks.
euractiv.comSarantis MichalopoulosMar 10, 2017After 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 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), 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.
