The FAO price index for vegetable oils reached its lowest level since April 2009, falling to 132.9. AgroTimes reports, citing FAO. The fall has been continuing during 2018.
The reason for the decline in world prices for vegetable oils is a drop in palm oil quotations. And this, in turn, is associated with the large volumes of reserves in its main exporting countries, combined with weak import demand for this type of oil in the world.
For comparison: the prices for soybean oil, on the contrary, somewhat recovered due to the steady demand for it from the biodiesel sector. Quotes of rapeseed oil increased after the supply in the EU declined.
World prices for sunflower oil remain almost unchanged since September.
As we wrote earlier, in the season 2018/2019 Ukraine will be able to increase the volume of exports of sunflower oil not only compared to the previous one, but also to set a record, exceeding the figures for the 2016/2017 marketing year.