The average value of the FAO Vegetable Oils Price Index fell to 120.9 points in September, down 3.9 percent from the previous reporting month, the organization’s press office said.
“The decline in the index was caused by a drop in world prices for palm, sunflower, soya and rapeseed oil,” experts explained.
Thus, last month sunflower oil became noticeably cheaper against the background of a high sunflower harvest and active sales of finished products from the Black Sea region.
Quotes for palm oil also decreased. This happened as a result of seasonal growth of production in South-East Asia.
World prices for soya oil fell despite strong demand from biodiesel producers.
As for global rapeseed oil prices, they declined due to the continued high supply of the product on the global market.