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.

The publication of Fastmarkets’ AG-PLM-0019 Refined bleached deodorised (RBD) palm olein assessment for March 16 was delayed due to a reporter error. Fastmarkets’ pricing database has been updated.

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Indonesia will maintain its ban on exports of crude palm oil mill effluent (POME) and crude used cooking oil (UCO) as President Prabowo Subianto doubles down on plans to secure domestic feedstocks for sustainable aviation fuel (SAF) production and position the country as a leading global aviation fuel supplier.

Indian vegetable oil buyers are awaiting further details of a recently announced India-US trade deal, in which India is expected to reduce tariffs on certain US goods, including imports of soybean oil.

Vegoils futures were broadly lower on Friday February 6.

Indonesia’s palm oil exports in December reached 2.62 million tonnes, according to data from cargo surveyor Intertek Testing Services (ITS), with the figure comprising exports of palm oil and its derivatives, palm kernel oil and oleochemicals.

Crude palm oil (CPO) futures rebounded from three days of losses to recover to its highest in three weeks on Friday January 16, spurred by gains across the broader vegoil complex and pre-weekend positioning while further indications of a slowing pace of production also lent support.