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Mysteel China edible oils market daily: Crude oil gains drive stronger midday volatility in the vegetable oil market

Source: Mysteel Jul 23, 2026 10:45
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Plant Oil Demand Price Supply
Domestic palm oil traded in a volatile but stronger manner during the midday session today, following the uptrend in BMD palm oil futures, supported by rising crude oil prices, which enhanced palm oil's value as a biodiesel substitute in major producing regions. However, supply-demand pressure in palm oil-producing regions remains significant, and the weak spot fundamentals capped upside potential. On the spot front, with futures prices rising, spot basis came under mild pressure, while demand liquidity remained weak.

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