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Agri-Pulse reports that renewable diesel demand has driven a surge in imports of animal fats and vegetable oils, which more than doubled between 2020 and 2023. Used cooking oil accounts for much of the growth, and the industry has so far sourced feedstocks without strain.
Heavy import demand for feedstocks supports global vegetable oil prices, and tighter 2025 supply after tax credit changes could add upward pressure.
agri-pulse.comNoah WicksJun 26, 2024After 133 past bullish trade events, PALMOIL moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
After 81 past neutral trade events, SBO moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
