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Vegetable oil prices have roughly doubled or tripled over the past year as fuel industry demand for oils grows, with Decatur soybean oil at 76.50 cents per lb on May 14 versus 25.75 a year earlier. Palm and canola oil prices also more than doubled, and food buyers are looking at high-oleic oils and advance purchasing to manage costs.
Biofuel mandates are pulling vegetable oils toward the fuel sector, keeping edible oil costs elevated for food and feed users. Buyers face persistently high oil input costs with few cheap substitutes.
foodbusinessnews.netJeff GelskiMay 25, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
