Global vegetable oil prices rose in October, according to the latest release by the benchmark United Nations’ FAO report and Food Price Index (FFPI). The index tracks changes in the global commodity prices of the most globally traded food commodities. The FAO Vegetable Oil Price Index averaged 169.4 points in October, up 1.5 points (0.9%) from September and reaching its highest level since July 2022. The increase reflected higher quotations for palm, rapeseed, soyabean and sunflower oils. The FAO Report said that “International palm oil prices rebounded slightly after easing the previous month, supported by expectations of tighter exportable supplies following Indonesia’s planned increase in biodiesel blending mandates in 2026, and despite higher-than-expected production in Malaysia.”
“World sunflower oil prices rose for the fourth consecutive month in October, largely due to limited supplies from the Black Sea region amid harvest delays and cautious farmer sales.” Meanwhile, global rapeseed and soyabean oil prices increased due to persistent tight supplies in the European Union (EU) and higher domestic demand in Brazil and the USA respectively.
The FAO’s vegetable oil prices index illustrates the changes in international prices of the 10 most important vegetable oils in world trade, weighted according to their export shares.
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