U.S. Gulf Coast palm oil cash prices continue to linger in the mid-40s cents per pound, in step with ongoing weakness in the wider edible oil futures markets. Since the end of July, Gulf palm oil spot values are down about 10 percent, nestled in a range around 45 cents per pound. Since the start of January, Gulf palm oil values are down almost 17 percent from 54 cents per pound.
Increased buying interest from major destination markets boosted prices to 50 cents per pound in the summer. However, a subsequent drop in demand from two of the world’s largest buyers, China and India, caused prices to quickly erode in August and much of September.
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12.10.2024
September renewable diesel shipments to West Coast reach new high
September interregional shipments of biodiesel to the West Coast were down, while flows of renewable diesel (RD) to the region reached a six-month high, monthly data released on November...
12.10.2024
Gulf UCO prices continue to rise, Midwest fats remain ‘soft’
Prices for used cooking oil (UCO) delivered to the US Gulf Coast continued to climb on Tuesday December 10, even as markets softened in other regions.
Sizeable volumes...
12.10.2024
Bloodmeal prices rise with strong demand
Ruminant bloodmeal traded higher late Monday and on Tuesday December 10, up to $1,200 per short ton FOB Missouri River.
The move comes due to increased demand and...