FAO global vegetable oil price index is up by 2.3% in November
Published Dec 3, 2022
Tridge summary
In November, the average value of the FAO Vegetable Oil Price Index began to rise after seven months of continuous decline and, as a result, amounted to 154.7 points, which is 2.3% higher than the level of the previous month, the press service of the organization said.
Original content
“The growth recorded in November was due to the increase in world prices for palm and soybean oil, which more than compensated for the decline in rapeseed and sunflower oil prices,” experts say. Last month, global palm oil prices rebounded on the back of a recovery in global demand, as well as concerns about deteriorating crop prospects in some production areas in Southeast Asia. World quotations of soybean oil rose due to strong demand for the product from the biodiesel sector, especially in the US. At the same time, world prices for rapeseed and ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.