Global: Higher prices of palm and sunflower oil in November more than offset lower prices of soybean and rapeseed oil

Published Dec 22, 2023

Tridge summary

Global price index increased due to higher prices for palm and sunflower oil, even though soybean and rapeseed oil prices were lower. Increased purchasing by leading importing countries and lower production in major producing countries drove a more than 6.0 percent rise in international palm oil prices. Global sunflower oil prices also increased moderately due to steady import purchases, while soybean oil prices declined slightly due to reduced global import demand and abundant supplies led to lower global rapeseed oil prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The increase in the price index was driven by higher global prices for palm and sunflower oil, which more than offset lower prices for soybean and rapeseed oil. International palm oil prices rose by more than 6.0 percent in November, driven mainly by more active purchasing by leading importing countries and seasonally lower production in major producing countries. Global sunflower oil prices also increased moderately, mainly due to the continued steady pace of import purchases. In turn, international soybean oil prices declined slightly on ...

Source: Gospodarz