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The chairman of the Indonesian Palm Oil Board said that if crude oil prices rise, the price gap between CPO and crude oil narrows, encouraging more CPO use in biodiesel. He added that Europe could substitute rapeseed oil with imported CPO if biodiesel demand shifts.
Higher crude oil prices make palm oil more competitive as a biodiesel feedstock, which can lift demand and prices for CPO. The link to European vegetable oil imports adds to the upside case.
en.infosawit.comDec 6, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
