Soybean Oil Prices Extend Gains after Palm Oil Surges to New High

Soybean Oil Prices Extend Gains after Palm Oil Surges to New High

Soybean Oil Prices Extend Gains after Palm Oil Surges to New High

Vegetable oil prices advanced on Thursday, as another record high close for palm oil futures and overnight strength in crude oil markets drove gains in the soybean oil market. Palm oil prices ended more than two percent higher at 5,444 ringgit (April contract +115 ringgit per tonne) after changes to Indonesia’s export policy went into effect. In an ongoing attempt to temper soaring cooking oil prices, Indonesia’s Ministry of Trade on Thursday said, effective immediately, exporters must earmark 20 percent of their palm oil shipments for the domestic market at capped price levels. The rule, which follows Indonesia’s requirement that exporters of crude palm oil, used cooking oil, and refined palm olein must obtain permits for the next six months, is expected to put a dent in Indonesia’s palm oil exports in February, market sources said.

The rally in palm oil prices, lower soybean…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Request a Free 7-Day Trial


    Please enter the level or reporting you're most interest in.
  • Hidden

    Please select the area in which you are most interested in our reporting.
    Please select all areas of secondary interest to you.

  • Must be between 10-26 characters. Including 1 number, 1 capital letter, 1 lower case letter, and 1 special character.
  • Hidden
  • Hidden

*all fields required

More from the author

07.16.2021

Vegetable Oil Futures Prices Extend Higher Before Weekend

06.23.2021

Veg Oils Rise as Weather Woes Remain Focus for Soybean Oil

Blog

07.16.2021

Vegetable Oil Futures Prices Extend Higher Before Weekend

Vegetable Oil Futures Prices Extend Higher Before Weekend

Vegetable Oil Futures Prices Extend Higher Before Weekend    

Vegetable oil prices extended higher on Friday, with U.S. soybean oil futures up again on bean oil/meal spreading as well as...

06.23.2021

Veg Oils Rise as Weather Woes Remain Focus for Soybean Oil

Veg Oils Rise as Weather Woes Remain Focus for Soybean Oil

Veg Oils Rise as Weather Woes Remain Focus for Soybean Oil

Vegetable oil prices were higher on Wednesday, with overnight gains in palm oil futures driven by bargain buying supporting...

06.04.2021

What’s Ahead in the FOG Markets?

What’s Ahead in the FOG Markets?

Rising Tide – What’s Ahead in the FOG Markets Ryan Standard, Fastmarkets / The Jacobsen The following video is a capture from The Jacobsen Fuels & Feedstocks Virtual Conference...

Latest Tweets