Global Vegetable Oils Half-Year Report 2023

This report offers an outlook into potential price fluctuations and supply and demand trends, including speculations from large industry players.

What to expect from the report

This report highlights Q1-Q2 2023 trends, prices, and sentiments in the global vegetable oils industry. It covers Crude Oil, Refined Oil, and specialty oils like Coconut, Palm Kernel, Olive and Sunflower Oils.

Additionally, the report offers an outlook for Q3, encompassing projections for future production and import/export dynamics. Expertly curated by our in-house analysts, backed by data from Vesper and industry insiders.

What happened in H1 2023?

  • Lower-than-anticipated global demand coming from both the food and biofuel industry
  • Declining vegetable oil prices till June ’23
  • Remarkable rankings for Ukrainian soybean oil suppliers to the EU: first place in soybean oil, third place in soybeans, and fourth place in soybean meal.
  • A record production of rapeseed oil coming from Russia
  • Sunflower oil exports from Russia to India and China have increased at a high pace
  • Spanish olive oil prices have risen by almost 60 per cent since June 2022 to about 5.4 euros per kilogram. 

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