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Make sense of South Asia’s dynamic vegetable oils market with our daily Fastmarkets newsletter. As the world’s largest importer of edible oils, the South Asian market is a critical driver of global trade. From shifting import duties to evolving consumer demand, staying informed is essential for your business.
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Vegoils futures traded largely higher on Monday March 30. Crude palm oil (CPO) surged, supported by a combination of bullish external cues and solid fundamentals. Meanwhile, soyoil futures climbed on the Chicago Mercantile Exchange mainly supported by stronger energy prices and by a bullish sentiment on new US renewable fuels targets announced on Friday March 27.
Strong demand pushed European biofuel feedstock prices further up during the week ending Thursday March 19, with sources reporting used cooking oil (UCO) trading at a €20 per tonne premium to last week’s levels, while category 3 animal fat prices moved up by €5-20 per tonne depending on the grade.
Crude palm oil (CPO) and soyoil futures on the Chicago Mercantile Exchange (CME) extended gains on Thursday March 12, as it continued to track strength in related vegoils and energy markets. The highs in CPO reached earlier in the day eased off by the day’s close.
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