# The rapid growth of oil quotations was not able to support prices for vegetable oils

> Vegetable oil prices failed to rise with crude oil, which jumped on OPEC demand cuts and a Saudi production cut. Palm oil fell to 2,031 ringgit per tonne on higher output and weaker demand, while US soyoil rose 1% on a Chinese purchase.

- Date: 2020-05-15 · published 2020-05-15T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/53234-the-rapid-growth-of-oil-quotations-was-not-able-to-support-prices-for-vegetable
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Vegetable oils are decoupling from crude because palm supply is growing and demand is weak, so feed fat prices are not following energy higher.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲
- PALMOIL: bearish ▼

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/strimke-zrostannya-naftovih-kotiruvan-ne-zmoglo-pidtrimati-tcini-na-roslinni-olii.html

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