- Bullish: Rapeseed oil, palm kernel oil, and coconut oil hit fresh highs, while sunflower and rapeseed meals strengthened, underscoring robust demand for vegetable oils and protein meals.
- Bearish: Brazilian soybean oil and several soybean meal benchmarks softened, highlighting regional oversupply and pressure on South American crush margins.
- Mixed: Divergent moves between Black Sea, EU, US, and Brazilian markets are amplifying arbitrage opportunities for buyers able to shift origins.
Global Vegetable Oil Price Moves – January 27, 2026
Global vegetable oil markets showed mixed price movements on January 27, 2026, with notable divergence between Black Sea, South American, European, and Asian benchmarks. While some origins like Brazilian soybean oil corrected sharply, others such as EU rapeseed oil and coconut oil from Indonesia pushed to new highs.
Vegetable Oil Benchmarks
| Commodity / Location | Price (US$/t) | Change (US$/t) | Comment |
|---|---|---|---|
| Sunflower oil FOB Black Sea | 1,245.00 | -5.00 | Modest decline; competitiveness vs. other origins remains key |
| Sunflower oil CIF Mumbai, India | 1,412.90 | 0.00 | Prices steady despite Black Sea softness |
| Soybean oil FOB Brazil | 1,156.29 | -47.76 | Weekly minimum; sharp correction creates substitution potential |
| Soybean oil FOB EU | 1,323.87 | +11.86 | Record high; reflects tight European supply |
| Soybean oil US CBOT | 1,199.54 | +11.46 | Firming in line with stronger US futures complex |
| Soybean oil Dalian, China | 1,197.79 | +3.40 | Moderate gains in Asian trade |
| Rapeseed oil FOB Netherlands | 1,248.65 | +13.20 | New maximum; signals tightening EU rapeseed oil balance |
| Palm oil FOB Malaysia | 1,089.53 | +7.46 | Continues gradual recovery |
| RBD palm oil Dalian, China | 1,294.13 | +13.17 | Firm demand in China supports higher import values |
| Palm kernel oil RBD FOB Malaysia | 2,019.85 | +19.90 | Further strength in lauric oil complex |
| Coconut oil FOB Indonesia | 2,810.90 | +88.18 | Largest daily gain; sharp rally in lauric markets |
Meal Market Developments
| Meal / Location | Price (US$/t) | Change (US$/t) | Comment |
|---|---|---|---|
| Sunflower meal CIF France | 264.90 | +3.56 | New high; reflects firm protein demand in Europe |
| Rapeseed meal FOB EU | 282.96 | +7.36 | Strength supports crush margins and protein complex |
| Soybean meal FOB Brazil | 324.67 | -0.50 | Slightly weaker amid ample supply |
| Soybean meal Dalian, China | 442.02 | -0.45 | Marginal easing in Chinese protein market |
| Soybean meal US CBOT | 324.08 | -0.33 | Soft tone despite firmer oil values |
| Soybean meal CIF EU | 381.09 | 0.00 | Unchanged; balanced EU soybean meal fundamentals |
Oilseed Benchmarks
| Oilseed / Location | Price (US$/t) | Change (US$/t) | Comment |
|---|---|---|---|
| Soybeans US CBOT | 392.14 | +2.02 | Modest gains in Chicago futures |
| Soybeans FOB Brazil | 415.71 | +0.20 | Flat to slightly higher, awaiting new-crop flows |
| Soybeans Dalian, China | 618.88 | -7.07 | Notable decline in Chinese oilseed values |
| Rapeseed MATIF France | 580.07 | +7.19 | New maximum; underscores tight EU rapeseed balance |
Market Analysis and Trading Implications
The Black Sea sunflower oil market is under mild bearish pressure after a $5.00/t decline, but its discount to higher-priced origins still underpins export competitiveness. At the same time, the steep drop in Brazilian soybean oil contrasts sharply with record or near-record levels in the EU and firm US prices, highlighting regional imbalances and widening arbitrage windows for buyers that can switch among origins.
Firm sunflower and rapeseed meal values, particularly in Europe, signal sustained global protein demand. This is supportive for crush margins even as some soybean meal benchmarks edge lower. For Black Sea and EU crushers, the combination of stronger meal prices and resilient oil demand—especially in rapeseed and lauric oils—suggests continued incentives to maintain or even increase crush activity despite localized price volatility.
Overall, the divergence between falling Brazilian soybean oil prices and rising European and US oil benchmarks underscores a market increasingly driven by regional supply-demand dynamics, logistics, and policy factors. Flexible buyers can potentially capture value through origin shifts and product substitution among soybean, sunflower, and rapeseed oils, while closely tracking the rapidly tightening lauric oil complex.
Source: Market Data
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