# W36 2024: Soybean Oil Weekly Update

> FAO data show global vegetable oil prices rose 0.8 percent month on month in August 2024, led by palm oil, while soyoil fell on a positive outlook for the 2024/25 soybean harvest. India's soyoil imports rose 16 percent to a two-year high in August as buyers substituted for pricier rapeseed oil. US crushing capacity is expanding to meet renewable diesel demand.

- Date: 2024-09-13 · published 2024-09-13T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28407-w36-2024-soybean-oil-weekly-update
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Strong Indian soyoil import demand supports export prices, while US crush expansion increases future soymeal output, a mixed signal for soybean and meal prices.

## Read by commodity

- SBM: neutral
- SBO: neutral
- PALMOIL: neutral

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w36-2024-soybean-oil-weekly-update

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