World prices of vegetable oils decreased by 3.2% in February

World prices for vegetable oils decreased by 3.2% in February from the previous month. It stood at an average of 135.9 points in February and constitutes its lowest value since the beginning of 2021. This is clear from the food price index, prepared by the Food and Agriculture Organization of the United Nations (FAO). ). The continued weakness in the index was due to lower prices for palm, soybean, sunflower seed and rapeseed oils. According to the FAO, international palm oil prices fell for the third consecutive month in February, depreciated mainly by persistent slack global import demand, despite lower seasonal production in the main producing regions in Southeast Asia. Prices for soybean oil also fell, driven by lower purchases from key importing countries and prospects for increased production in South America. "As in the case of sunflower and rapeseed oils, world prices remained low due to abundant exportable supplies worldwide," the index shows. The food price index ...