Tridge summary
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.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
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 ...
Source: UkrAgroConsult
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