# August 2024 Outlook Report: Oils

> The FAO vegetable oil index rose 2.43% in July 2024, and palm oil prices reached USD 885/mt on higher Malaysian exports. Argentine soybean oil fell to USD 945/mt on global surpluses, while Ukrainian sunflower oil prices eased to USD 930/mt.

- Date: 2024-08-26 · published 2024-08-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/4547-august-2024-outlook-report-oils
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md)

## Why it matters

Expected La Niña disruptions and strong palm exports support vegetable oil prices, while US and Argentine soybean oil supply surpluses weigh on soy oil values.

## Read by commodity

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

## Sources

- tridge.com: https://www.tridge.com/market-reports/august-2024-outlook-report-oils

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