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Vegetable Oil Prices Surge Due to Geopolitical Tensions and Growing Demand for Biofuels
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3 Articles
Grain and oilseed prices are strengthening in France, in a context of geopolitical tensions and a sharp rise in temperatures.
Edible oil prices surge on Israel-Iran conflict and stricter US biofuel mandates
Escalating tensions between Israel and Iran coincided with Washington’s announcement of tougher biofuel blending requirements, creating a perfect storm for commodity traders betting on higher prices. Soyabean oil futures have climbed 11% since Thursday, marking the highest level since October 2023. Meanwhile, palm oil has reversed earlier losses to gain over 6% this week, after suffering from oversupply concerns earlier in the year. The surge co…
Rising crude oil prices and the US biofuels mandate are boosting demand, while reduced soybean oil supplies are further pushing up prices.
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