# Global soybean oil prices continue to rise amid tight supply

> Oil World data show soybean oil exports from Argentina, Brazil, Paraguay, the US and Ukraine fell to 386,000 tons in October, a 10-year low. Exports for the first ten months of 2023 totaled 6.4 million tons, a nine-year low. The drop is tied to Argentina's poor 2022/23 soybean crop and strong domestic biofuel demand.

- Date: 2023-11-22 · published 2023-11-22T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33253-global-soybean-oil-prices-continue-to-rise-amid-tight-supply
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Reduced export availability from major suppliers tightens global vegetable oil supply, supporting soybean oil and palm oil prices.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲
- SUNMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-02-25 | [India Turns to US for Soybean Oil as Global Supplies Tighten](https://feedsoft.ai/events/42787-india-turns-to-us-for-soybean-oil-as-global-supplies-tighten.md) | +15.2% | +8.5% |
| PALMOIL | 2018-09-26 | [Prices for sunflower oil continue to decline](https://feedsoft.ai/events/63119-prices-for-sunflower-oil-continue-to-decline.md) | -2.4% | -0.5% |
| PALMOIL | 2020-11-11 | [Chinese demand for agricultural commodities continues to support global prices: Grain Market Daily \| AHDB](https://feedsoft.ai/events/12425-chinese-demand-for-agricultural-commodities-continues-to-support-global-prices.md) | +2.4% | +5.7% |
| PALMOIL | 2022-03-02 | [India asks Indonesia to raise palm oil supply as prices spike - sources \| Reuters](https://feedsoft.ai/events/42376-india-asks-indonesia-to-raise-palm-oil-supply-as-prices-spike-sources-reuters.md) | -2.6% | -3.6% |
| PALMOIL | 2025-10-21 | [CPO Prices to Hold Steady Above RM4,400 Amid Uncertain Palm and Soybean Oil Export Supplies Heading Into 2026 - MPOC](https://feedsoft.ai/events/15523-cpo-prices-to-hold-steady-above-rm4-400-amid-uncertain-palm-and-soybean-oil.md) | -0.9% | -6.5% |
| SBO | 2022-02-25 | [India Turns to US for Soybean Oil as Global Supplies Tighten](https://feedsoft.ai/events/42787-india-turns-to-us-for-soybean-oil-as-global-supplies-tighten.md) | +3.6% | -2.1% |
| SBO | 2025-11-01 | [Palm Oil Magazine - CPO Prices Decline Amid Rising Global Soybean Demand, Friday, Oct 31, 2025 - Palm Oil Magazine](https://feedsoft.ai/events/4448-palm-oil-magazine-cpo-prices-decline-amid-rising-global-soybean-demand-friday.md) | -0.7% | +4.3% |
| SBO | 2021-01-27 | [The sharp rise in prices of soybean oil will support prices for sunflower oil and sunflower](https://feedsoft.ai/events/49249-the-sharp-rise-in-prices-of-soybean-oil-will-support-prices-for-sunflower-oil.md) | +3.8% | +13.1% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/zakupivelni-tcini-na-sonyashnik-zrostayut-na-tli-posilennya-popitu-na-oliyu.html
- tridge.com: https://www.tridge.com/news/soybean-oil-prices-continue-to-rise-amid-tight-sup

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