In August 2026, all three FAO price indices* for the oilcrops complex continued to strengthen. The oilseed and oilmeal indices increased by 3.9 and 7.5 points (3.2 and 7.6 percent), respectively from July, while the vegetable oil price index increased only marginally, gaining 1.1 points (0.6 percent) month on month. All three indices remained well above their levels a year ago.

The continued increase in the oilseed index reflected higher prices for soybeans and rapeseed, while sunflower seed quotations remained broadly stable. International soybean prices climbed to their highest levels since early 2024, driven primarily by concerns over unfavourable weather conditions in parts of major growing regions in the United States of America. On the demand side, continued firm crushing activity across key consuming countries, supported by attractive processing margins, coupled with renewed import demand from China, provided additional support to global soybean quotations. Following a short decline in June, world rapeseed prices increased for the second consecutive month in August. Besides limited exports out of Ukraine due to logistical constraints, prices were influenced by unconducive planting conditions for the 2027 crop in the European Union. However, improved production prospects for 2026 crop in both Australia and Canada contained further price gains. International sunflower seed prices, by contrast, remained virtually unchanged in August, as support from export disruptions in the Black Sea region was largely offset by expectations of abundant global production in the upcoming 2026/27 season.

As for oilmeals, the price index increased to its highest level in two years, reflecting stronger soy and rapeseed meal values. World soymeal quotations were buoyed by strong import demand and spillover effects from higher soybean prices amid concerns over crop conditions in the United States of America. Meanwhile, rapeseed meal values also strengthened, underpinned by firm import demand from China, potentially tighter availabilities in the European Union, and constrained access to export supplies from the Black Sea region.

The vegetable oil index registered its third consecutive monthly increase, reaching its highest level since June 2022. The rise reflected higher world palm and soy oil prices, which more than offset lower quotations for sunflower and rapeseed oils. International palm oil prices continued to increase, driven by robust global import demand and concerns over the potential impact of El Niño-related weather conditions on production prospects in Southeast Asia. Soyoil prices of South American origin remained firm, supported by strong export demand, while quotations in the United States of America declined moderately amid uncertainty surrounding biofuel policies and their implications for domestic feedstock demand. Meanwhile, international sunflower and rapeseed oil prices dropped slightly, reflecting subdued import demand and expectations of ample global supplies of both oils in the 2026/27 season.

* The Oilseeds, Oils and Meals Monthly Price Update is an information product provided by the oilseeds desk of the Markets and Trade Division of FAO. It reviews the development of international prices for oilseeds, oils and meals as reflected by FAO’s price indices. Previous issues can be downloaded from the FAO website at the following webpage: https://www.fao.org/markets-and-trade/publications/oilseeds-archive/en

Please note that the views expressed in this information product are those of the author(s) and do not necessarily reflect the views or policies of FAO.

Explanatory notes:

FAO's price indices are calculated using the Laspeyres formula; the weights used are derived from export values of each commodity for the 2014–16 period. The indices are based on the following international spot prices for nearest forward shipment (provided by Oil World):

• 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; sunflower seed, fob Black Sea (please note that sunflower seed has been added to the index only in January 1976 and, until December 2012, referred to EU, cif Rotterdam).
  
• Components of the vegetable oils 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.