Global: A sharp drop in soybean oil prices has increased pressure on other oils, but the premium for sunflower oil will continue to rise

Soybean and palm oil futures have seen mixed movements on the back of varying factors. Soybean oil futures on the Chicago Stock Exchange fell by 5% due to uncertainty around green energy programs under the new US Administration, despite a positive outlook with increased soybean processing, strong exports, and a slight uptick in oil prices. Palm oil futures on Bursa Malaysia saw a decrease of 3.8% amid expectations of increased demand due to reduced sunflower oil supplies, though there is an anticipated further reduction in production. In contrast, soybean and palm oil prices have risen slightly in the Dalian exchange. Sunflower oil prices at Ukrainian ports have remained stable, while meal prices have seen a slight decrease, and purchase prices for sunflower have fallen slightly after reaching a seasonal high, leading to a reduction in offers from producers. The high prices of offers for sunflower oil are expected to persist due to a decrease in the sunflower harvest and a lack of cheap raw materials.