# Veg oils: Markets weighed down by disappointing US blending mandates - Fastmarkets

> Malaysian crude palm oil futures fell to an eight-day low in the week ending December 2, dropping 4.4% on the week. The decline followed a sharp fall in CME soyoil after the planned US biofuel blending changes, and a stronger ringgit added pressure.

- Date: 2022-12-05 · published 2022-12-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38341-veg-oils-markets-weighed-down-by-disappointing-us-blending-mandates-fastmarkets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker soyoil and a firmer ringgit reduce palm oil's price competitiveness and export values, which pressures palm oil quotes and related feed fats.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-06-22 | [European veg oil prices slump - Fastmarkets](https://feedsoft.ai/events/35588-european-veg-oil-prices-slump-fastmarkets.md) | +0.5% | +13.6% |
| PALMOIL | 2022-04-13 | [New relaxations of blending mandates could reduce demand](https://feedsoft.ai/events/15405-new-relaxations-of-blending-mandates-could-reduce-demand.md) | +2.4% | +2.5% |
| PALMOIL | 2023-02-07 | [Biofuels and feedstocks: Market outlook 2023 - Fastmarkets](https://feedsoft.ai/events/37419-biofuels-and-feedstocks-market-outlook-2023-fastmarkets.md) | +0.2% | +4.2% |
| PALMOIL | 2023-06-22 | [Palm extends losses over soybean oil and lower US biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/35581-palm-extends-losses-over-soybean-oil-and-lower-us-biofuel-mandate-markets.md) | +0.5% | +13.6% |
| PALMOIL | 2021-06-28 | [Palm falls as US court ruling stokes demand worries for rival soyoil - Markets - Business Recorder](https://feedsoft.ai/events/46659-palm-falls-as-us-court-ruling-stokes-demand-worries-for-rival-soyoil-markets.md) | +2.1% | +9.9% |
| SBO | 2022-12-02 | [U.S. grains: Soy snaps win streak on disappointing biofuel mandates - AgCanada](https://feedsoft.ai/events/38340-u-s-grains-soy-snaps-win-streak-on-disappointing-biofuel-mandates-agcanada.md) | -5.8% | -8.4% |
| SBO | 2023-06-22 | [European veg oil prices slump - Fastmarkets](https://feedsoft.ai/events/35588-european-veg-oil-prices-slump-fastmarkets.md) | +1.7% | +10.0% |
| SBO | 2022-04-13 | [New relaxations of blending mandates could reduce demand](https://feedsoft.ai/events/15405-new-relaxations-of-blending-mandates-could-reduce-demand.md) | +3.8% | +5.2% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/veg-oils-markets-down-by-us-blending-mandates/

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