Import market for Soybean Oil in Poland (6월, 2022)

Recent developments, including falling oil and fuel prices, the resumption of palm oil exports from Indonesia, and potential reductions in EU biofuel quotas, have significantly impacted the global vegetable oil market. The sudden increase in world soybean and rapeseed production forecasts has led to a notable decline in vegetable oil prices. However, amidst this downturn, prices for palm and soybean oil experienced a slight uptick due to reduced supply and increased demand. Malayan palm oil prices saw a recovery, albeit still below the two-week average. Conversely, sunflower oil exports from Ukraine are halted, and Russian butter supplies have dwindled due to sanction-related challenges. The article also touches on the efforts to temporarily suspend biofuel mandates in Germany, yet there is skepticism within the G7 regarding such measures, particularly from the US and Canada, who are advocating for the processing of domestically grown crops for biofuels.