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The FAO Food Price Index averaged 140.9 points in July, down 8.6% from June and the fourth straight monthly decline from its earlier all-time high. Vegetable oil prices fell 19.2%, a 10-month low, on ample palm oil supplies from Indonesia, expected new-crop rapeseed supply, and weak soy oil demand.
Sunflower oil also dropped amid subdued import demand.
Lower vegetable oil prices reduce input costs for feed makers using oilseed-based ingredients, though high fertilizer costs still threaten future production.
fao.orgMay 8, 2022After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
