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Indonesia launched a biodiesel blend containing 30% palm-based fuel on Monday, December 23, 2019. Output is forecast to slow due to drought and haze from forest fires.
The B30 mandate adds a large new source of domestic palm oil demand at a time of falling output, which raises palm oil price expectations and reduces exports available to importers.
en.mercopress.comDec 28, 2019
meatmanagement.comNews Global poultry outlook 2020 2019-12-20T00Dec 20, 2019
reuters.comBernadette ChristinaDec 23, 2019After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
The B30 launch on Dec 23 increases domestic palm demand and, with drought and haze expected to slow output, tightens supply.
