Yes -- with caveats.
It will decompose. Even motor oil will decompose. (Don't use this as a way of disposing the used stuff. It has lots of ungood things besides oil by the time it's used.)
However it will attract animals, dogs, cats, squirrels, mice, rats, bears, porcupines,chickadees, bluejays...
A better solution: Mix it with oatmeal, or some ...
You can compost vegetable oil but when doing aerobic composting the disadvantage is that oil will reduce the amount of air that can get in your compost heap. If you add too much oil and/or don't aerate your heap properly the compost will start to smell and turn into an anaerobic process. Additionally oil may attract animals.
Recycling the oil via a local ...
I found some data from the American Soybean Association on their SoyStats page to help answer this. All data is for 2019.
Million metric tons produced
USD per ton
33.4 million metric tons (about 60%) of the soybean meal is used as livestock feed in the U.S., and the rest ...
Using palm oil for cooking is fine from a health perspective, but not from a sustainability perspective. Often rain forests are cleared to create new palm oil plantations, so palm oil is responsible for deforestation, forest fires and loss of habitat for animals. Even certified organic palm oil and palm oil with RSPO certification are not without these ...
You can also consider using vegetable oil as fuel for diesel vehicles modified for such purposes. There may be a site for people running on vegetable oil in your area, and you could donate your extra oil for this use.
You should also be aware that you can reuse cooking oil if you strain and refrigerate after cooking, and don't take it over 375 degrees F ...
I recently found more information about this, so I'll self-answer. While pesticide can have a big impact on the environment, the biggest problem with palm oil seems to be the clearing of rainforests.
This webpage says:
While organic farming prohibits the use of pesticides, chemical fertilizers and genetic engineering, organic labels do not ...
I think this is such a complex topic, the general person on the street (without sufficient background, education etc.) doesn't understand the impact of both oils.
When coconut oil was first cultivated, a lot of natural habitat was destroyed (as every type of agricultural process). But there wasn't such an awareness of ecological impacts via social media etc....