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Global Vegetable Oil Prices Continue to Fall Through June 2022

Viva Budy Kusnandar 12/07/2022 17:00 WIB

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The global vegetable oil price index in June 2022 had fallen 15.59% from its peak in March 2022.

Global Vegetable Oil Price Index (January 2021 - June 2022)

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Global Vegetable Oil Prices Continue to Fall Through June 2022

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Global Vegetable Oil Price Index (January 2021 - June 2022)

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The Food and Agriculture Organization (FAO) noted that the global food price index stood at 154.2 in June 2022, down 2.3% from the previous month (month-to-month/m-to-m).

The decline in the food price index was partly driven by a decrease in vegetable oil prices. The FAO recorded the global vegetable oil price index at 211.8 in June 2022, down 7.59% (m-to-m) from the previous month.

This decrease in the vegetable oil price index marked the third consecutive month of decline since March 2022, as shown in the graph. Cumulatively, the index has fallen by 15.59% compared to its highest level in March 2022.

Despite the sharp drop, the June 2022 vegetable oil price index remained 34.3% higher than its June 2021 level (year-on-year/yoy) and 18% higher than its year-end level (year-to-date/ytd).

The FAO's vegetable oil price index decline was triggered by weakening prices of palm oil, sunflower oil, soybean oil, and rapeseed oil.

Global palm oil prices fell consecutively during April-June 2022, coinciding with increased seasonal production from major palm oil producers and improved export prospects from Indonesia.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Global Vegetable Oil Prices Continue to Fall Through June 2022

Global Vegetable Oil Prices Continue to Fall Through June 2022

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