Vegetable Oil Prices Tumble Amid Crude Slump
Global vegetable oil prices have been declining due to weaker crude oil prices and a lack of agreement between the US and China on reducing import tariffs on US soybeans. This has led to lower demand expectations for soybean oil, which is part of the broader vegetable oil complex.
Palm oil prices are also under pressure from inconsistent buying interest from key importers such as India and China. As a result, Malaysian palm oil prices have fallen by USD 12 over the week (September 18-24) to USD 1,196.75/mt.