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Last Update: abril 2016

Comentario sobra la reciente evolución de los índices de precios

(disponible sólo en inglés).

In March 2016, FAO’s vegetable oils price index rose markedly for the second consecutive month, gaining as much as 9.5 points (or 6.3 percent). The oilseeds price index recorded a more modest gain (+ 2.5 points or 1.8 percent), while the index for oilmeals remained virtually unchanged (0.5 points or 0.3 percent).  

The increase in the oilseeds index mostly reflects the recent strengthening in international soybean prices. The latter was mainly driven by robust international demand, especially for South American origins, which coincided with both, a slow start in Brazil’s new-crop shipments and harvest delays and potential yield losses in certain growing regions of the country following excessive rainfall. Overall, however, the global 2015/16 supply prospect for soybeans remains favourable.   

The further leap in the vegetable oils index – which now reached a 15-month high – was led by the continued rise in palm oil prices. International palm oil quotations strengthened on concerns over stagnating production in 2016, following prolonged dry weather in Southeast Asia. In Malaysia, weak production combined with firm international demand, resulted in a sharp drop in inventories in March 2016. Global prices were also supported by the prospect of falling 2016 export availabilities in Indonesia, as domestic demand for palm oil by the biodiesel sector rises. International prices of soybean oil remained virtually unchanged on a monthly average basis. Interestingly, though, soyoil quotations weakened at the beginning of the month on prospects of ample 2015/16 availabilities, but recovered over the second half of March, under the influence of rising soybean prices and spill-over effects from palm oil. Rising world crude oil prices also contributed to stronger soy and palm oil values.

As to oilmeals, the price index remained unchanged month-on-month, reflecting stable soymeal prices. The latter continued to hover around historically low levels, on expectations of ample global supplies throughout 2015/16.



Components of the oilseeds price index: Soybeans, US, cif Rotterdam; Copra Phil./Indo., cif NW Eur. port; Rapeseed, Europe, 00, cif Hamburg; Linseed, Canada, No.1, cif NW Eur. port; Sunseed, EU, cif Rotterdam (please note that sunseed has been added to the index only in January 1976).

Components of the oils/fats price index: Soybean oil, Dutch , fob ex-mill; Sun oil, EU, fob NW Eur. port; Rape oil, Dutch, fob ex-mill; Groundnut oil, any origin, cif Rotterdam; Cotton oil, US, PBSY, fob Gulf; Coconut oil, Phil./Indo., cif Rotterdam; Palmkernel oil, Mal./Indo., cif Rotterdam; Palm oil crude, cif NW Eur. port; Linseed oil, any origin, ex-tank, Rotterdam; Castor oil, ex-tank Rotterdam.

Components of the meals/cakes price index: Soy meal, 44/45%, fob ex-mill Hamburg; Sun pell., 37/38%, Arg., cif Rotterdam; Rape meal, 34%, fob ex-mill Hamburg; Copra exp. pell., Phil., domestic; Palmkernel  exp., 21/23%, cif Rotterdam.