Global vegetable oil prices continue to fall following oil quotes

A sharp drop in oil prices and improving weather conditions in South America added pressure on vegetable oil prices, which fell during the week. February Brent oil futures on the London ICE Futures exchange fell 10.3% since December 1 to the lowest level since July at $77.2/barrel (-5.5% for the week, 9.6% for the month) on against the backdrop of a decline in global demand. January WTI oil futures on electronic trading of the New York Stock Exchange NYMEX fell by 5.13% to $72.3/barrel since December 1 (-5.8% for the week, 11.3% for the month). Following oil prices and forecasts of reduced demand from the biodiesel industry, January soybean oil futures on the Chicago Stock Exchange fell 4% to $1,107/t from December 1 (-5.5% for the week, -0.5 % for the month), losing speculative growth caused by fears of a possible reduction in the soybean harvest in Brazil. Under pressure from lower oil and vegetable oil prices, Malaysian palm oil futures fell for a third straight session, ...