Global Vegetable Oil Prices Rise in Unison, These Are the Most Affected Commodities
Jakarta – Global vegetable oil prices have increased again for the third consecutive month in March 2026. This rise is triggered by surges in palm oil, soya oil, sunflower oil, and rapeseed oil prices.
Based on data from the UN Food and Agriculture Organization (FAO) food price index, the increase occurs amid global supply pressures and rising world energy prices.
The vegetable oil index was recorded at 183.1 points in March, up 8.9 points or about 5.1 percent from the previous month. On an annual basis, the increase reaches 13.2 percent.
FAO explains that this rise is driven by price surges in nearly all major types of vegetable oils.
“International palm oil prices reached the highest level since mid-2022 and became more expensive than soya oil,” as quoted from the Oil & Fats International report, Friday, 17 April 2026.
“This increase mainly reflects the ongoing impact of the crude oil price surge,” it added.
Soya oil prices also rose slightly due to expectations of increased biofuel use in the United States. However, this rise was partly offset by rising seasonal export supplies from South America.
Meanwhile, sunflower oil and rapeseed prices were also pushed higher due to tight supplies from the Black Sea region and increasing demand for energy raw materials amid high global energy prices.
FAO also notes that all major food commodity groups, such as cereals, meat, dairy, and sugar, experienced price increases to varying degrees.
This situation is influenced not only by fundamental market factors but also by responses to rising energy prices due to escalating conflicts in the Middle East region.
Overall, the FAO food price index stood at 128.5 points in March 2026. This figure is up 2.4 percent from the previous month, marking two consecutive months of increases. Compared to the all-time high in March 2022, the current level is still about 19.8 percent lower.
This rise in vegetable oil prices has the potential to add pressure to global food inflation, especially in countries that are highly dependent on food imports.