Global Vegetable Oil Crisis Spilling into Peru's Soybean oil market

The wholesale price of Peruvian soybean oil increased by +37.87% YoY to USD 2.35/kg in W4 Apr-22. Other vegetable oil supply shortages also led to soybean oil price increases in the global market, including Peru. HIgh input and shipping costs put pressure on the Peruvian soybean oil. Peru's import value of soybean from Brazil increased by +204% YoY in contrast decreased by 46% in volume in the first two months of 2022.