World: Taboos are broken in the vegetable oil market

Published 2022년 6월 23일

Tridge summary

The recent article highlights the significant shifts in the global vegetable oil market, with a specific focus on the food industry, in the wake of the sunflower oil shortage resulting from Russia's invasion of Ukraine. This shortage has propelled oil companies to seek alternatives in countries such as Greece, Tunisia, France, and Mozambique, leading to increased use of rapeseed oil, which was previously deemed unfavorable by consumers. Despite these challenges, the first half of the year has shown resilience and adaptation within the sector, with soybean and rapeseed oils gaining more traction. The article also notes the slow but steady increase in the availability of oils from Ukraine and neighboring countries, which is anticipated to stabilize prices and further support the market's recovery.

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

Original content

Olimerca.- The vegetable oil market has experienced a certain revolution in recent months that has caused some changes in the perception and use of oils such as soybean and rapeseed in the food industry sector. The shortage of sunflower (pipe, flour and oil) caused by Russia's invasion of Ukraine has forced many oil companies to source from countries such as Greece, Tunisia, France or even Mozambique, at any price, which has forced that canning industries have had to resort to other vegetable oils that in the past did not have a good image on the part of the consumer, as is the case of rapeseed. Thus, in the last Board of Directors of Afoex, which represents the majority of the vegetable oil sector in Spain, the balance of the market in the first half of the year shows that, despite the exceptional situation, the industries have been able to adapt to circumstances and has ensured that soybeans and rapeseed have been able to grow more prominently, compared to sunflower oil. Certain ...

Source: OliMerca