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World prices of vegetable oils increased by 2.3% in November, according to the FAO

Published Dec 8, 2022

Tridge summary

The international prices of vegetable oils increased by 2.3% in November compared to the previous month, after seven consecutive months of declines. This is clear from the food price index, prepared by the Food and Agriculture Organization of the United Nations (FAO). The increase was due to higher international prices for palm and soybean oils, which more than offset lower prices for rapeseed and sunflower oils.

Original content

International prices of vegetable oils increased by 2.3% in November compared to the previous month, after seven consecutive months of declines. This is clear from the food price index, which is prepared by the Food and Agriculture Organization of the United Nations (FAO). The increase was due to higher international prices for palm and soybean oils, which more than offset lower prices for rapeseed and sunflower oils. According to the FAO, the international prices of palm oil rebounded in the eleventh month of the year, supported by a renewed world demand for imports due to the competitiveness of prices compared to those of other edible oils. Concerns about lower production potential due to excessive rainfall in parts of the main growing regions of Southeast Asia have also played a role. For their part, world values of soybean oil rose slightly, mainly supported by the persistence of robust demand from the biodiesel sector, especially in the United States. In November, the ...
Source: Agropopular
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