FAO Food Price Index down in May for second straight month

FAO’s Food Price Index (FPI) was reported down over half a percent in May, adjusted for inflation, the second straight monthly decline. May’s FPI was still up 20.8 percent YOY, supported by significant gains across all subindexes. Food commodities showing the most significant YOY [...]

Edible oils imports mixed in March

The U.S. imported more canola, palm, and sunflower oils in March but pulled back on deliveries of coconut and palm kernel oils. Canola oil imports are predictably higher this year due to lower domestic production. During the first three months of the year, U.S. [...]

Real Food Price Index down half a percent at start of 2022

Adjusted for inflation, FAO’s Food Price Index (FPI) fell half a percent in January but was still up 6.1 percent YOY. In nominal terms (unadjusted for inflation), prices rose 1.1 percent in January, up 19.5 percent YOY. The decline in the real FPI came [...]

U.S. 2020 edible oil imports were close to 2019’s record

The U.S. imported around 4.76 MMT of edible oils last year, down just 1% from 2019 imports, which were near 4.83 MMT. USDA expects imports to continue to drift lower this year, with the edible oils complex seeing about a 2 percent decline in [...]

December refined corn oil stocks near three-year high

In the February Fats and Oils report, USDA reported that production of refined corn oil totaled 182.2 million lbs in December, up 33.6 million pounds or 23 percent from November but down 7 percent from a year ago. U.S. stocks of refined corn oil [...]

Use of canola oil ramps up as corn oil supply dwindles

In the Fats and Oils report for October, USDA noted disappearance of refined canola for processing was close to 172.4 million pounds, down just 2 million pounds from September (which was the second highest monthly U.S. use recorded). Demand for canola oil has been [...]

Record soybean oil use for biodiesel in May

The biodiesel industry produced 147 million gallons in May, up 2 percent from April but down 5 percent from May 2019. However, soybean oil utilization jumped to 778 million pounds, up 16 percent from April and beating the previous monthly volume of 768 million [...]

2019 biodiesel production down 7 percent YOY

U.S. biodiesel producers manufactured 1.73 billion gallons in 2019, down from 1.86 billion in 2018. Production was lower YOY during eight months of the year and dipped sharply during Q4. December biodiesel production was 133 million gallons, up 5 percent from November but down [...]

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