Correction in place for Bangladesh Palm and Soybean Oil prices Widens as Palm Oil Prices Tumble.

Palm and soybean oil prices retracted over the last month, as crude oil prices decreased, speculators in the oil market took profits, and a record area under soybeans was forecast for the US. The Bangladeshi government also reduced the maximum retail price for cooking oils, pushing prices down further. Palm oil prices dropped comparatively more than soybean oil prices in the last month, and the drop could be an over-exaggeration. The spread between palm and soybean oil prices could narrow again in the near future as palm oil prices make a correction.