Palm oil prices hit record premium globally

게시됨 2024년 12월 4일

Tridge 요약

Palm oil, once the most affordable vegetable oil, has experienced a significant price surge of nearly 30% due to high demand, surpassing the cost of soybean oil, which has dropped by over 11% owing to record global production. This shift has resulted in palm oil having a premium over soybean oil, with Malaysian palm oil futures priced approximately $145 per ton higher than the most active soybean oil futures in Chicago, marking the largest premium seen in recent decades.
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원본 콘텐츠

Palm oil is no longer the cheapest vegetable oil in the world, as strong demand has pushed prices up by almost 30%. Meanwhile, prices for competing soybean oil have fallen by more than 11% this year due to record global soybean production. This was written by Reuters market analyst Karen Brown. Palm oil accounts for about 40% of the world’s production of major vegetable oils, while soybean oil accounts for one third. Therefore, palm oil has always been cheaper than soybean oil by an average of 170 USD/t. “But at the end of November this year, the basic futures for Malaysian palm oil were about ...

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