FAO Vegetable Oil Price Index rises for third consecutive month driven by higher prices for palm, soya, sunflower and rapeseed oils
14/04/2026 (Oils & Fats International) - Global vegetable oil prices increased for the third consecutive month in March due to higher quotations for palm, soya, sunflower and rapeseed oils, according to the benchmark United Nations’ Food and Agriculture Organization (FAO) Food Price Index (FFPI) released on 3 April.
The index tracks changes in the international prices of the most globally traded food commodities.
The index averaged 183.1 points in March, up 8.9 points (5.1%) from February and up 21.3 points compared to the previous year, a rise of 13.2%.
“The continued increase was driven by higher quotations across palm, soya, sunflower and rapeseed oils,” the FAO said.
“International palm oil prices reached their highest level since mid-2022 and moved to a premium over soyabean oil, largely reflecting spillover effects from the sharp increases in crude oil prices, while lower-than-expected production estimates in Malaysia provided additional support.”
World soyabean oil prices edged up marginally, as expectations of stronger biofuel uptake in the USA were partly offset by seasonally rising export supplies from South America.
Meanwhile, international sunflower and rapeseed oil prices were underpinned, respectively, by lingering supply tightness in the Black Sea region and prospects of stronger feedstock demand amid substantially elevated world energy prices.
Price indices across all commodity groups – cereals, meat, dairy, and sugar – also rose to varying degrees, reflecting not only underlying market fundamentals but also responses to higher energy prices linked to the conflict escalation in the Near East.
The FFPI averaged 128.5 points in March 2026, up 3 points (2.4%) from its revised February level, marking a second consecutive month of increase.
Compared to historical levels, the FFPI stood 1.2 points (1%) above its value the previous year but remained as much as 31.7 points (19.8%) below the peak reached in March 2022.