# Vegetable oil prices remain under pressure from uncertainty with demand 24.11.2021 - UkrAgroConsult

> Vegetable oil prices came under pressure as falling crude oil reduced biofuel demand, while Malaysian palm oil futures fell 2% on higher output and forecasts of increased production next year. Chicago soybean oil futures rose 1.4% on expected holiday fuel and food demand, and Egypt's GASC tender for 10,000 tons of sunflower oil and 30,000 tons of soybean oil was scheduled for November 25.

- Date: 2021-11-24 · published 2021-11-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/44127-vegetable-oil-prices-remain-under-pressure-from-uncertainty-with-demand-24-11
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude and rising palm output weigh on vegetable oil values, while the Egyptian tender offers near-term support for soyoil and sunflower oil prices.

## Read by commodity

- SBO: neutral
- WTI: bearish ▼
- PALMOIL: bearish ▼
- SUNMEAL: neutral

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/vegetable-oil-prices-remain-under-pressure-from-uncertainty-with-demand/

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