The FAO Vegetable Oil Price Index averaged 130.6 points in March, up by 9.7 points (8.0 percent) from February and reaching a one-year high.

This marked recovery reflected higher price quotations for palm, soybean, sunflower, and rapeseed oils.

International palm oil prices continued to increase in March, supported by lower seasonal production in major producing countries, which coincided with firm domestic demand in Southeast Asia.

Meanwhile, global soybean prices rebounded from multi-year lows, largely supported by ongoing and robust demand from the biofuel sector, especially in the United States and Brazil.

Additionally, sunflower and rapeseed oil prices also recovered in March, amid increasing global import demand. Moreover, higher crude oil prices also contributed to the rise in vegetable oil quotations.