Commodities
Vegetable Oil Prices Surge to Highest Level Since June 2022
Global vegetable oil prices rose by 2% in July to reach their highest level since June 2022, according to the United Nations' Food and Agriculture Organization (FAO) Food Price Index (FFPI).
The FAO Vegetable Oil Price Index averaged 195.7 points in July, up 3.7 points compared to the previous month.
Higher quotations for palm and soybean oil more than offset lower sunflower and rapeseed oil prices, contributing to the increase.