Organic soybean oil prices remain depressed, with a midpoint price of 52 cents per pound, according to Fastmarkets’ assessments. Demand for organic soybean oil has softened over the last year, contributing to a nearly 30% decline in prices.
Conventional soybean oil also lost considerable value over the period, declining 25% year over year, data from Fastmarkets showed.
Some organic soybean oil has been diverted to conventional markets when bids from organic buyers don’t exist.
Conventional soybean oil prices have been under pressure, as biofuel producers pivot to cheaper alternative feedstocks like used cooking oil (UCO) and animal fats.
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11.21.2024
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