The edible oils market is on a weekly downward trend from recent highs – except for olive oil, which is having a tough time. It’s important to note that despite a downward weekly trend, prices are still much higher YoY. A lot of these increased prices will trickle through to production cost over the coming months.

It is important to reiterate and emphasise the realities of Energy challenges in food production, and how this is a key driver of the price increases we’re currently observing. The rationing of Gas during the winter in the EU remains a key concern, as this will make production during the post-harvest period extremely expensive. Also, the harsh reality is that this impacts (directly or indirectly) everything that we consume/buy/produce globally. We can expect this to get worse before it gets better. As such, this will have a significant impact on commodities.

Following a meeting of the WPTC (World processing tomato council) including most AMITOM country representatives (tomato growers association), the new crop pricing was discussed and various factors were examined to clarify the reason behind the large increases that we are seeing from all origins this year.