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Palm oil has lost its position as the world's cheapest edible oil due to shrinking output from major growers and abundant soyoil supply. Palm now trades at a premium to soyoil, reversing a discount of $782 a ton seen in November 2022.
Palm's premium to soyoil reduces its competitiveness in food and feed demand, potentially shifting buying toward soy and other vegetable oils and supporting soyoil prices relative to palm.
bloomberg.comBernadette TohSep 26, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
