Significant decline in prices observed on the world market of vegetable oils

The global market for vegetable oils is experiencing a significant decline in prices. Thus, as of March 23, soybean oil quotes on the SWOT exchange fell to $1,150.2 per ton, which is the lowest figure in the last 15 months. Prices were under pressure from a significant weakening of prices for soybean oil in the South American market, a gradual decline in prices on the world oil market, as well as low demand for oil from key importers - China and India. In addition, it is worth noting that Brazil's decision to increase the biofuel mandate to 12% was also a factor in reducing prices in the global soybean oil market. Note that palm oil ...