US soybean oil exports were robust to kick off 2025, but they could start to taper off should domestic prices remain less competitive than their global counterparts, trading sources told Fastmarkets.

Since January 1, benchmark US soyoil futures prices have increased around 15%, while Malaysian palm oil futures have declined by 3%. This helped to close the previously huge price gap between the two, with palm oil once again becoming the world’s cheapest edible oil.

In the fall of 2024, palm oil — which typically holds a discount of $30-40 per tonne to soybean oil and sunflower oil — moved into a sharp price premium to its competitors.

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