FAO Vegetable Oil Price Index down 19.5 pct
11 February 2019, 07:32
The FAO Vegetable Oil Price Index averaged 131.2 points in January, rising 5.4 points (or 4.3 pct) from the previous month and marking the second consecutive increase after a protracted fall.
"The rise mainly reflects additional gains in palm oil values, underpinned by a seasonal decline of production in the major producing countries and a firm global import demand. International soyoil prices also rose, largely reflecting robust demand for South American supplies," the message says.
The upward trend in the world vegetable oil prices last week preserved.
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