Vegetable oil

Global food prices rose in March, the first increase since July, pulled higher by cooking oil prices despite the cost of grains continuing to ease, the U.N.'s Food and Agricultural Organization has said.

The FAO's overall Food Price Index climbed 1.1 percent over the month to stand at 118.3 points in March 2024. On an annual comparison it was 7.7 percent lower.

Global food prices hit a five-year high in December, the UN Food and Agriculture Organization (FAO) said on Jan. 9.

The FAO Food Price Index soared 2.5 percent on a monthly basis, averaging 181.7 last month, due to strong rallies in vegetable oils, sugar and dairy markets, said the FAO.

The Indonesian Ministry of Commerce has threatened to impose higher tariffs on EU dairy products in response to the proposed measure by the bloc on palm oil biodiesel, the BTA quoted France as saying.

The warning could exacerbate the trade dispute between the EU and Indonesia, which is the world's largest producer of palm oil. The EU plans to reduce palm oil-based biofuels by 2030.

The Active Users Association identified imitations of quality olive oil on the Bulgarian market. The survey includes 28 brands, all of them being bought in supermarkets in Sofia.

World food prices declined in November to their lowest level in more than two years, led by declines in vegetable oils, dairy and cereal, the United Nations food agency said on Dec. 6.

The Bulgarian rapeseed market was stable over the last week. Rapeseed price closed it unchanged at BGN 680/MT that is equivalent to USD 409/MT (+ USD 5/MT). The pace of export shipments has slowed down over the past seven days, reports UkrAgroConsult.

 In the Bulgarian oilseed market, the price indicators in the national currency remained at last week's level. However, a decline happened because of a weakening Bulgarian lev. The sunseed market looks more flat at the end of the season. Sunseed price closed the week unchanged at BGN 609/MT that is equivalent to USD 353/MT.

Food, Agriculture and Livestock Minister Faruk Çelik has said his office has launched work to detect food thought to include palm oil in its ingredients, state-run Anadolu Agency has reported.

The ministry issued a statement on Jan. 15 after media reports on controversial palm oil, saying it was considered necessary to conduct an investigation based on public health concerns.