# World: Vegetable oil prices recover as biofuels rise

> Soybean oil prices rebounded after falling on EPA biofuel volumes that came in below expectations. Oil World reports that traders are focusing on rapid growth in US biodiesel and HVO output, which could reach a record 12.5 Mt this year, while Black Sea sunflower oil exports are declining and rapeseed prices rose on a projected 2023/24 production decline.

- Date: 2023-07-05 · published 2023-07-05T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35137-world-vegetable-oil-prices-recover-as-biofuels-rise
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expanding US renewable diesel and biodiesel demand supports soyoil and other vegetable oil prices, which in turn lifts the value of the oilseed crush and meal. Lower-than-expected EPA numbers had only a short-lived effect on the rebound.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- tridge.com: https://www.tridge.com/news/vegetable-oil-prices-recover-as-biofuels-rise

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