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FAO's global price index for grain and vegetable oil with opposite trend

FAO-Preisindex für Getreide und Pflanzenöl mit gegenläufiger Entwicklung
This news article has been translated to English.
Grain & Cereals
Vegetable Oil
Price Trend
Jun 15, 2022
From Agrar
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While the FAO grain price index continued to climb in May and reached a new high, the index for vegetable oils fell but still remained well above the previous year's level. The FAO vegetable oil price index fell by 8.3 in May points or 3.5% to an average of 229.3 points but is still well above the level of the previous year.
06/15/2022 | 14:38:00 | ID: 33347 | Department: Agriculture | agricultural economics Berlin (agrar-PR) - While the FAO grain price index continued to climb in May and reached a new high, the index for vegetable oils fell, but remained well above the previous year's level. The FAO vegetable oil price index fell by 8.3 points in May or 3.5% to an average of 229.3 points, but is still well above the level of the previous year. Decisive are the falling prices for palm, sunflower, soybean and rapeseed oil. The reasons for the decline include the lifting of the Indonesian export ban on refined palm oil. Other reasons are the world market prices for sunflower oil, which have fallen from an all-time high, and reduced claims for soybean and rapeseed oil as a result of reduced demand. In the case of palm oil, the ongoing labor shortage in Malaysia and the resulting limited supply of palm oil are driving prices up. The FAO grain price index reached an average of 173.4 points in May 22, up ...
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