FAO vegetable oil price index hits four-year high, driven by both palm oil and soybean oil

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智通财经2026/08/07 10:11

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The United Nations Food and Agriculture Organization's vegetable oil price index averaged 195.7 points in July, up about 2% month-on-month, reaching the highest level since June 2022. Increased palm oil and soybean oil quotations were the main drivers pushing up the index, fully offsetting the downward drag from sunflower seed oil and rapeseed oil prices.
International palm oil prices rebounded for the second consecutive month, after a brief pullback in May. This was mainly supported by robust demand from Indonesia's biodiesel sector and a strengthening crude oil price. Although Southeast Asia has entered its seasonal production increase period, bringing supply pressure, positive demand factors remain dominant.
World soybean oil prices rose in tandem. The continued strong demand for raw materials in the United States, combined with increased global imports due to improved price competitiveness, jointly provided a solid price floor.
Sunflower seed oil and rapeseed oil prices came under pressure and retreated. The market expects abundant supply for the 2026/27 season, but escalating tensions in the Black Sea region and concerns over disrupted export flows limited the downside. The supply and demand dynamics have led to pronounced divergence in the price trends of different varieties.

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