September 19th, 2022

The energy of the authorities has turned towards defeating inflation which has reached 10% for several consecutive months in 2022 in many countries, including Europe and the USA. At the start of April, rapeseed oil was over Eur 2000 pmt FOB, soyabean oil over USD 1500 pmt FOB and crude palm oil unavailable for exports out of Indonesia. The prices had increased roughly by 15% over the already expensive levels of early January this year. The authorities were rightly worried about their population no longer being able to afford vegetable oil to cook their food. What remains to be discussed is where the market will stabilize, a question largely dependent on how many further unpredictable events lie ahead of us. If you want to participate to the discussion and have more information about our reports, don’t hesitate to contact Oleoline.