Over the past four weeks, vegetable oil prices have surged significantly. According to OilWorld analysts from APK-Inform, this sharp rise in price offers may lead to a temporary dip in the near future. However, analysts predict that prices will likely approach a three-year high by the end of this marketing year.

Sunflower Oil Leads the Price Increases

Sunflower oil prices are expected to lead the way, driven by an anticipated sharp decline in global exports. As a result, sunflower oil could command a higher premium compared to other vegetable oils like soybean, canola, and palm oil. The price hikes are further fueled by reports of unexpected crop losses due to excessive rainfall in France and drought conditions in the Black Sea region.

Palm Oil and Soybean Oil Prices Continue to Climb

As of October 10, palm oil prices remain elevated, with Malaysian palm oil priced at $1,065 per ton FOB and Indonesian palm oil at $1,120 per ton. Meanwhile, Argentine soybean oil is trading at $1,029 per ton. In the Black Sea region, sunflower oil prices range from $1,100 to $1,180 per ton CIF-Mersin for the nearest shipments.

Türkiye Faces Lowest Sunflower Harvest in a Decade

Adding to the global supply concerns, Türkiye is forecasted to experience its lowest sunflower harvest in the last 10 years. This shortfall is expected to contribute to ongoing pressure on sunflower oil prices in the region.

Conclusion: Market Outlook Remains Uncertain

While a temporary dip in vegetable oil prices may occur, the overall trend points to a sustained rise, with prices approaching levels not seen in three years. Key factors such as global weather conditions and supply chain disruptions will continue to shape the market in the months ahead.





Click here to reach our trading platfrom CMBroker