# Palm Oil, World’s Most Popular Vegetable Oil, No Longer the Cheapest - Bloomberg

> 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.

- Date: 2024-09-26 · published 2024-09-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28392-palm-oil-world-s-most-popular-vegetable-oil-no-longer-the-cheapest-bloomberg
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-09-26/world-s-most-popular-vegetable-oil-is-no-longer-the-cheapest

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.