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The FAO vegetable oil price index fell 5.2% to 131.8 points in April, its lowest since August 2019 and the third monthly decline. Palm, soybean and rapeseed oil prices fell while sunflower oil rose, with UFOP citing COVID-related demand drops in diesel and biodiesel and higher Malaysian palm output.
Lower vegetable oil prices reduce input costs for feed fats and oil-based rations, though the decline reflects weak biodiesel demand that could reverse if blending demand recovers.
renewable-carbon.euJun 16, 2020After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
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.
