Concerns about the possible lower supply of palm oil in Asia, the appreciation of oil and the firm global demand for soybean oil have driven the prices of this derivative in Brazil and the United States to record levels.
Cepea survey shows that degummed crude soybean oil traded in São Paulo – SP (with 12% ICMS) had an average of R$ 9.693,25/tonne in May, 5,3% higher than in April and a real record (IGP-DI, April/22), considering the Cepea monthly series, started in Jul/98.
It should be noted that the increase in domestic prices was limited by lower demand from the biodiesel sector. Furthermore, food industries have reported difficulties in passing on the new appreciation of soybean oil to the consumer.
As for soybeans, the increase in the price of oil increased the industry's demand for the oilseed, which boosted the prices of the raw material. The appreciation of the dollar against the Real, of 4,1% from April to May, also raised soybean prices. In the monthly comparison, the ESALQ/BM&FBovespa Indicator – Paranaguá (PR) advanced 3,8%, and the CEPEA/ESALQ Indicator – Paraná, 3,7%.
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