World vegetable oil prices rose after the US-China duty agreement, but sunflower oil was not affected

Published May 14, 2025

Tridge summary

Over the weekend in Switzerland, representatives of the United States and China agreed to a tariff reduction, leading to an optimistic market outlook and a potential recovery in global trade. This was reflected in the prices of Brent crude, soybean, and palm oil. However, the rise in palm oil prices was limited by increased production and inventories. Meanwhile, soybean oil prices surged due to anticipated renewed exports to China and reduced domestic supply. Sunflower oil prices in Ukraine remained stable, but were influenced by increased offers and a drop in Russian oil prices. Ukraine saw a 9% increase in sunflower oil exports in April compared to March, the lowest figure for this month in the last 3 seasons.

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

Original content

Over the weekend in Switzerland, representatives of the United States and China agreed to reduce tariffs by China on American goods to 10% and by the United States on Chinese goods to 30%, which added optimism to markets that were expecting a global recession and a collapse in world trade. July Brent crude futures rose 7.3% to $66.6/barrel (+4% month-on-month) on expectations of a recovery in oil demand following improved relations between the US and China. Following oil prices, soybean and palm oil quotes began to rise. July palm oil futures on the Bursa exchange in Malaysia rose 2.07% yesterday to 3,893 ringgit/t or $908.5/t (+2.7% for the week), but further growth was limited by data on increased production and inventories. According to the Malaysian Palm Oil Board (MPOB), in April, crude palm oil production increased by 21.52% compared to March to 1.69 million tonnes, while exports increased by only 9.62% to 1.1 million tonnes, resulting in oil inventories rising by 19.37% ...

Source: UkrAgroConsult