Vegetable Oil Prices Start Season at Record High

The new season for vegetable oil prices has begun, and they are 10-15% higher than last year's levels. According to the USDA forecast, global production will reach a record 244.95 million tons in 2026/27 MY, but ending stocks will remain at the previous level of 30.8 million tons due to increased consumption.

The cessation of oil exports from Black Sea ports and rising prices have kept vegetable oil prices high, despite an increase of only 10-15% compared to last year's 34% rise in oil prices.

Palm oil futures on the Bursa Malaysia exchange rose by 1.8% to $1,224/t over the past week, while soybean oil futures on the CBOT exchange fell by 2.6% to $1,493/tonne. Sunflower oil demand prices in India and Russia are still 15% above last year's levels.