BOPO Spread Calculator
Calculate the palm oil / soybean oil (BOPO) spread — the key metric governing demand switching between the world's two largest vegetable oils.
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Result
Enter both prices to calculate the spread.
What is the BOPO spread?
The BOPO spread (palm oil vs soybean oil) measures the price difference between the world's two largest vegetable oils. Because palm and soy oil are partial substitutes in food, feed and industrial use, their relative price drives demand switching.
When the spread is wide (palm much cheaper than soy), buyers shift purchases toward palm oil — supporting palm demand and prices. When the spread narrows below ~$50/MT, some buyers switch to soy oil for quality or logistics reasons.
Historical context
The long-run BOPO spread averages roughly $80–120/MT. Spreads above $150/MT are historically wide and strongly supportive for palm demand. Negative spreads (palm more expensive) are rare and signal unusual supply disruptions or policy shocks.
This calculator is for information only. Prices are not quotes; spreads are indicative and may differ from live interbank or exchange-traded spreads due to timing, grade, basis and contract differences. Not investment advice.
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