World vegetable oil prices rose 3.4% in November, according to FAO

Global prices for vegetable oils rose 3.4% in November from the previous month, after three 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 in the price index was due to the increase in world prices for palm oil and sunflower oil, which more than offset the decrease in prices for soybean oil and rapeseed oil. International palm oil prices rose more than 6.0% in November, mainly due to increased purchases by the main importing countries and the seasonal decrease in production in the main producing countries. As for global sunflower oil prices, they also increased moderately. In contrast, international soybean oil prices declined slightly due to sluggish global import demand, offsetting the effects of reduced soybean production prospects in Brazil, while maintaining abundant supplies. contributed to reducing global rapeseed oil prices. World food prices The food price ...