In March, the average value of the FAO Vegetable Oil Price Index continued to decline to 131.8 points, which is 3% less than in February and 47.7% less than the same month last year, the press service of the organization reported.
“The decline in this index was the cumulative result of a decrease in quotations of soybean, rapeseed and sunflower oils, which more than compensated for the increase in world prices for palm oil,” experts explain.
Thus, in March, palm oil prices returned to the growth phase against the background of a decrease in production volumes in the countries of Southeast Asia due to adverse weather conditions and limited supply of palm trees from Indonesia.
Soybean oil quotes once again fell: this time under the influence of the downward trend in world soybean prices.
Prices for rapeseed and sunflower oil continued to fall for the fifth month in a row, which is explained by FAO experts by the presence of significant stocks of these products in the world and sluggish demand from the main buyers.