Soybean oil prices rise in November in the South

Traditional cooking oil became more expensive in November for Brazilian consumers. This is what the new survey “Price Variations: Brazil & Regions” indicates, carried out by Neogrid, a technology and data intelligence ecosystem that develops solutions for managing the consumption chain. 

According to the study, the average price of soybean oil increased by 9,7% in November, from R$8,26 in October to R$9,06. Proteins followed this rise: beef increased by 7,2%, while pork increased by 6,1% – both have been on a trajectory of consecutive increases over the last four months.

“This trend of continuous price increases may change consumer behavior, with Brazilians seeking cheaper alternatives or reducing their purchasing volume,” explains Anna Fercher, head of Customer Success and Insights at Neogrid. “These changes affect the dynamics of the consumer basket, as well as the supply chain, requiring even more strategic management to meet demand efficiently and sustainably.”

Products such as vegetables and shampoo also saw price increases of 3,1% and 2,9%, respectively. On the other hand, the categories that saw the biggest drops in average prices between October and November were UHT milk (-3,5%), cassava flour (-3,1%), toothpaste (-3%), wheat flour (-2,7%) and powdered milk (-2,6%).

Biggest increases in Brazil in 2024

In the year to date up to November, ground and whole coffee beans continue to lead the way in price increases across the country. The product rose 38%, going from R$36,89 in December 2023 to R$50,90 in this latest monitoring. In second place is oil (27,2%), followed by UHT milk (20,6%), pork (20,4%) and cheese (20,1%).

Price variations in October in the South

In the South region, the largest increases occurred in the following categories: oil (8,1%); beef (6,6%); liquid detergent (4,3%); chicken (4,0%) and vegetables (3,9%). The main drops were concentrated in these categories: biscuits (-6,0%); UHT milk (-5,5%); cassava flour (-4,6%); eggs (-4,5%) and tomato sauce (-3,2%).