# Oil prices doubling, or even tripling, makes fry life a priority | 2021-05-25  | Food Business News

> 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.

- Date: 2021-05-25 · published 2021-05-25T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/47181-oil-prices-doubling-or-even-tripling-makes-fry-life-a-priority-2021-05-25-food
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- foodbusinessnews.net: https://www.foodbusinessnews.net/articles/18707-oil-prices-doubling-or-even-tripling-makes-fry-life-a-priority

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