Global: A look into May-December 2024 for vegetable oil market

Published 2024년 5월 9일

Tridge summary

The global soybeans oversupply is helping to stabilize soybean and soybean oil prices, although bad weather in Argentina could potentially support these prices. Meanwhile, palm oil prices are awaiting a rise in crude oil prices, which will increase demand in the biodiesel industry. Sunflower and sunflower oil (SFS and SFO) stocks are low in the Black Sea & Danube region, with expected decreases in crushing and supply in the upcoming season. Vegetable oil stocks in India and other importing countries are also low, with buyers expected to replenish their stocks by purchasing larger amounts of SFO in the coming months.

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

Original content

The global soybeans oversupply remains a stable and constant factor keeping soybean and soybean oil prices stable, thereby increasing short-term pressure on other vegetable oils. However, the bad weather in Argentina is unlikely to jeopardize global soybean supplies. Most likely, if the weather continues to be unfavorable, this could support soybean and soybean oil prices. Crude oil. Crude oil price has continued to fall. The market is still focused on the situation in the Middle East. Palm oil. Palm oil is waiting for crude oil prices to rise as this will increase biodiesel industry demand. Global palm oil production and exports are expected to increase as usual at this time of the year, which will affect prices. Sunflower and Sunflower Oil. SFS stocks are low in the Black Sea&Danube region. In May-June, 2024, SFS crushing is expected to decrease, reducing SFO supply. This trend has not yet been taken into account by SFO buyers. Vegetable oil stocks in India and other importing ...

Source: UkrAgroConsult