# Vegetable Oils Weaken on Red Sea Crisis, Soybean Supply

> Heavy rain in Malaysia and Indonesia pushed palm oil expectations for a sharp January output drop, with MPOA estimating a 15.63% decline for January 1-20. Palm oil prices rose alongside higher Brent crude, while other vegetable oils weakened on the Red Sea crisis and bumper soybean supply. Asian physical demand has softened after pre-Lunar New Year restocking.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: weather · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/6836-vegetable-oils-weaken-on-red-sea-crisis-soybean-supply
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower Malaysian palm output tightens vegetable oil supply and supports palm prices, while a large soybean crop and weak demand keep soyoil under pressure. Competition between palm and soyoil shapes relative vegetable oil pricing for feed and food buyers.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-03-08 | [Global vegetable oil prices seen rising for the rest of 2023 on supply uncertainty: Oilworld's Mielke](https://feedsoft.ai/events/36959-global-vegetable-oil-prices-seen-rising-for-the-rest-of-2023-on-supply.md) | -4.1% | -5.5% |
| PALMOIL | 2022-02-17 | [Why is the price of vegetable oil surging? - Marketplace](https://feedsoft.ai/events/8759-why-is-the-price-of-vegetable-oil-surging-marketplace.md) | +4.5% | +13.8% |
| PALMOIL | 2025-06-04 | [Global Vegetable Oil Markets Face Tariff, Weather Turbulence](https://feedsoft.ai/events/10951-global-vegetable-oil-markets-face-tariff-weather-turbulence.md) | -1.0% | +4.1% |
| PALMOIL | 2025-04-10 | [Vegetable oil prices rise amid tariff chaos and climate pressures](https://feedsoft.ai/events/25207-vegetable-oil-prices-rise-amid-tariff-chaos-and-climate-pressures.md) | +0.8% | -3.2% |
| PALMOIL | 2023-03-01 | [Palm oil clocks third weekly climb on tight supply worries](https://feedsoft.ai/events/37449-palm-oil-clocks-third-weekly-climb-on-tight-supply-worries.md) | +1.8% | -4.7% |
| SBO | 2024-07-31 | [Falling soybean oil prices weigh on other vegetable oil markets](https://feedsoft.ai/events/29357-falling-soybean-oil-prices-weigh-on-other-vegetable-oil-markets.md) | -1.9% | -2.3% |
| SBO | 2024-11-25 | [Soybean Weekly Report](https://feedsoft.ai/events/11136-soybean-weekly-report.md) | -5.3% | -4.1% |
| SBO | 2026-01-29 | [Oilseeds: Canola rallies, soybean meal too: bullish](https://feedsoft.ai/events/21146-oilseeds-canola-rallies-soybean-meal-too-bullish.md) | +0.6% | +8.0% |

## Sources

- vespertool.com: https://vespertool.com/news/vegetable-oils-except-palm-oil-have-weakened-since-the-last-report-influenced-by-the-red-sea-crisis-and-a-bumper-soybean-supply/

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