# European veg oil prices slump - Fastmarkets

> European vegetable oil prices slumped on June 21 after reports circulated that the EPA would reduce rapeseed and soybean oil volumes in the biodiesel mix. Sunflower oil fell 4-4.5% and rapeseed oil dropped about €30 per tonne, while CME soyoil hit limit down.

- Date: 2023-06-22 · published 2023-06-22T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/35588-european-veg-oil-prices-slump-fastmarkets
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Lower expected biofuel blending demand for vegetable oils pushed prices down across Black Sea and European markets, with the drop tied to the EPA decision.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-08-26 | [Indonesia's biofuel B40 plan expansion at risk on high palm oil prices - Fastmarkets](https://feedsoft.ai/events/45437-indonesia-s-biofuel-b40-plan-expansion-at-risk-on-high-palm-oil-prices.md) | -2.6% | -5.4% |
| SBO | 2026-01-16 | [US soybean oil prices stall amid biofuel policy, 45Z uncertainty: 2026 preview - Fastmarkets](https://feedsoft.ai/events/15055-us-soybean-oil-prices-stall-amid-biofuel-policy-45z-uncertainty-2026-preview.md) | +1.3% | +6.8% |
| SBO | 2023-04-28 | [Crude palm oil prices dive to six-month low as Indonesia revises export policy - Fastmarkets](https://feedsoft.ai/events/4383-crude-palm-oil-prices-dive-to-six-month-low-as-indonesia-revises-export-policy.md) | -1.7% | -8.4% |
| SBO | 2017-06-01 | [Anti-dumping taxes fear for soybean oil prices](https://feedsoft.ai/events/70581-anti-dumping-taxes-fear-for-soybean-oil-prices.md) | +0.1% | +2.5% |
| SBO | 2022-12-05 | [Veg oils: Markets weighed down by disappointing US blending mandates - Fastmarkets](https://feedsoft.ai/events/38341-veg-oils-markets-weighed-down-by-disappointing-us-blending-mandates-fastmarkets.md) | -6.1% | -9.6% |
| PALMOIL | 2021-08-26 | [Indonesia's biofuel B40 plan expansion at risk on high palm oil prices - Fastmarkets](https://feedsoft.ai/events/45437-indonesia-s-biofuel-b40-plan-expansion-at-risk-on-high-palm-oil-prices.md) | -2.5% | +2.0% |
| PALMOIL | 2019-11-23 | [Palm Oil News - Palm Oil Sues European Union](https://feedsoft.ai/events/56090-palm-oil-news-palm-oil-sues-european-union.md) | +3.4% | +9.1% |
| PALMOIL | 2023-04-28 | [Crude palm oil prices dive to six-month low as Indonesia revises export policy - Fastmarkets](https://feedsoft.ai/events/4383-crude-palm-oil-prices-dive-to-six-month-low-as-indonesia-revises-export-policy.md) | -9.7% | -7.7% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/european-veg-oil-prices-slump/

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