The FAO Vegetable Oil Price Index decreased

02.03.2017

The FAO Vegetable Oil Price Index averaged 178.7 points in February, down 7.6 points (4.1 percent) from January, marking the first month-on-month decline since October 2016. The Index is, however, still up 28 points, or 19 percent, from last year.

The drop in prices in February mainly reflects developments in the palm and soy oil markets. While prospective production increases in Southeast Asia and slowing global import demand put downward pressure on palm oil prices, soy quotations eased on account of higher crop forecasts in Brazil and Argentina as well as ample soyoil supplies in Argentina and the United States – following subdued demand from biodiesel producers.


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