Food Oil Price Ratios Shift Away from Soy Imports

October 28, 2010 03:49 AM
 

As soyoil gets more expensive relative to palm oil, the world’s biggest vegetable oil buyer?India?will likely shift toward palm oil, according to one analyst. India’s vegetable oils imports are likely to set a record 9.3 million metric tons this marketing year, with palm oil rising 11% to almost 7 mmt and soyoil dropping 6% to 1.5 mmt.

Soyoil is strengthening on higher soybean prices, greater Chinese demand and the concern that La Nina could affect the South American supply, which is unlikely to hurt Malaysian and Indonesian palm production. At the same time, Argentina and Brazil are increasing use of soyoil for biofuels.


 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close