World: The price index for vegetable oils FAO is 162.6 points

The price index for vegetable oil FAO fell to a record minimum for half a year and is 162.6 points, which is 9.6 points less than last month or 5.6%.

Such data are taken from FAO reports.

According to the information provided, the decrease in the price index for vegetable oils is due to a drop in prices of palm, rapeseed and soybean oil, as the amount of stocks of these oils in countries such as Malaysia and Indonesia broke all records due to increased production and low demand for these products.

It is also reported that according to the results of 2017, the average price index for vegetable oils FAO reached a level of 169 points, which is 3% higher than in the previous year, but still significantly behind the record figures of 2008 and 2011.

It should be recalled that the quantity of sunflower in the factories, whose main activity is processing and storing this crop, as of December 1, reached a level of 6.74 million tons, which is 871.3 thousand tons less than the same indicator of 2016. In 2016 this indicator was 7.61 million tons.

According to the Food and Agriculture Organization (FAO), the Vegetable Oil Price Index has reached 162.6 points, signaling a rise in prices for oilseeds in the global markets. The increase in prices can be attributed to lower yields of vegetable oils, including sunflower oil, and increased demand for oilseeds due to their use in the food and industrial sectors.

It is expected that the upward trend in vegetable oil prices will continue in the near future. However, it is important to note that this may lead to higher food costs, which can have a negative impact on consumer demand.