The Food and Agriculture Organization (FAO) oil price index averaged 185.9 points in January, up 7.4 points (4.2%) from the previous month and reaching an all-time high.

This is reported in the FAO report.

According to analysts, this growth is explained by the increase in quotations of palm, soybean, rapeseed and sunflower oil.

“After a brief decline in global palm oil prices in January, they began to rise again, mainly influenced by concerns about a possible reduction in export supply in Indonesia, which is the world's main exporter of palm oil, as well as due to low production volumes in key producing countries. ”, the FAO commented.

It is noted that world prices for soybean oil have resumed, which was facilitated by active import purchases, in particular, from India.

“As for prices for rapeseed and sunflower oils, their growth was due to a further reduction in supply and an increase in world import demand, respectively,” the experts stressed.

The FAO emphasized that the increase in world quotations of vegetable oils was also facilitated by the rise in prices for crude oil.

It is also noted that the average value of the FAO Food Price Index in January 2022 was 135.7 points, which is 1.5 points (1.1%) higher than the level of December 2021. The increase in the index in January was due to the increase in oil price sub-indices and dairy products, which was partially offset by a second consecutive month of lower sugar prices.

Recall that the agricultural holding MHP, whose founder is Yuriy Kosyuk, in the 4th quarter of 2021 reduced the sale of sunflower oil by 4% to 79.48 thousand tons compared to the results of the same period in 2020.

latifundist.com