US soybean oil demand from India continues to ramp higher due to its price competitiveness to that of palm oil in the global market.
The USDA on Monday December 30 reported the sale of 23,000 tonnes of soybean oil to India for the 2024/25 marketing year.
This was the second large purchase of soyoil from India in the last two months. In November, the USDA reported a sale of about 30,000 tonnes of the edible oil to India.
US soybean oil foreign export demand swung sharply higher in the final quarter of 2024, with Argentina’s soybean oil basis premiums moving above those in the US for the first time since 2022.
With soybean oil futures and cash basis levels sinking, demand shifted to the US export market, making it a more cost-effective option for foreign buyers.
…
01.06.2025
SkyNRG Washington SAF plant to receive $1.5 million planning grant
The $1.5 million grant is intended for use in engineering, permitting and logistics studies towards the planning of the facility, which will produce 50 million gallons of SAF per...
01.06.2025
Animal fat prices in Gulf show upward pressure; weekly hog slaughter increases
The US animal fats and oils markets began the week of Monday January 6 on a relatively active note as trading gradually picks up following the holiday season.
01.06.2025
Potential January ILA port strike weighs on market sentiment
US animal proteins prices were steady day on day on Monday January 6 amid an impending port strike.
A January 15 deadline is set for the International Longshoremen’s...