Ukraine: Vegetable oil prices stepped up on active demand and rising crude oil

Other Edible Vegetable Oil
Published Nov 5, 2021

Tridge summary

Firmer price quotations palm, soy, sunflower, and rapeseed oils drove FAO's Vegetable Oil Price Index to an all-time high. Increased demand and rising crude oil prices lent support to all main vegetable oils.

Original content

The FAO Vegetable Oil Price Index averaged 184.8 points in October, up 16.3 points (or 9.6%) month-on-month and marking an all-time high. "The increase was driven by firmer price quotations for palm, soy, sunflower and rapeseed oils. International palm oil prices increased for a fourth consecutive month in October, largely underpinned by persisting concerns over subdued output in Malaysia due to ongoing migrant labour shortages," the report reads. In the meantime, world prices of palm, soy and sunflower oils received support from reviving global import demand, particularly from India that lowered import tariffs further on edible oils. As for rapeseed oil, the continued strength in international values chiefly stemmed from protracted global supply-demand tightness. Noticeably, rising crude oil prices ...
Source: Latifundist
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