MARKET DEVELOPMENT
Senegal’s Vegetable Oil Price Down By 0.6 Percent in February
Senegal’s Vegetable Oil Price Down By 0.6 Percent in February
13/04/2016 (StarAfrica.com) - The price of a liter of vegetable oil decreased by 0.6 percent in February 2016 on the Senegalese market, the Directorate of Forecasting and Economic Studies (DPEE) announced on Tuesday.It stood at 1392 CFA against 1400 in January 2016, an increase of 8 CFA.
During the first two months of 2016, the prices of soybean oil, palm oil and groundnut were down by 5.7 percent, 12.5 percent and 7.7 percent respectively compared to the same period in 2015.
Between January and February 2016, the price of palm oil sharply increased by 12.9 percent amid expectations of lower global supply in the coming months.
In the same vein, the soybean oil price has also increased by 4.3 percent over the period. The price of peanut oil, for its part, recorded a monthly decline of 0.2 percent.
In March 2016, the US Department of Agriculture (USDA) expected a global supply of vegetable oils of 197.9 million tons, representing an increase of 0.1 percent and 1.2 percent compared to February 2016 forecasts and estimates of the 2014-2015 campaign.
Also, global demand for vegetable oils, estimated at 177.2 million tons, increased by 0.1 percent and 3.8 percent respectively compared to February 2015 forecasts, the 2014-2015.estimates.
During the first two months of 2016, the prices of soybean oil, palm oil and groundnut were down by 5.7 percent, 12.5 percent and 7.7 percent respectively compared to the same period in 2015.
Between January and February 2016, the price of palm oil sharply increased by 12.9 percent amid expectations of lower global supply in the coming months.
In the same vein, the soybean oil price has also increased by 4.3 percent over the period. The price of peanut oil, for its part, recorded a monthly decline of 0.2 percent.
In March 2016, the US Department of Agriculture (USDA) expected a global supply of vegetable oils of 197.9 million tons, representing an increase of 0.1 percent and 1.2 percent compared to February 2016 forecasts and estimates of the 2014-2015 campaign.
Also, global demand for vegetable oils, estimated at 177.2 million tons, increased by 0.1 percent and 3.8 percent respectively compared to February 2015 forecasts, the 2014-2015.estimates.