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The FAO vegetable oil price index fell 6 points to 126, its lowest since December 2018, down 12% over the year. The decline was driven by weaker palm and soybean oil prices on sluggish demand and seasonal Southeast Asian output growth.
Lower FAO index readings signal cheaper vegetable oil supplies, which can weigh on palm and soybean oil prices and reduce the cost of competing fats used in feed.
ofimagazine.comAug 7, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
