Khaberni - The representative of the food sector in the Jordan Chamber of Commerce, engineer Jamal Amro, expects the impact of the global rise in oil prices on the local market to begin in two weeks.
Amro explained that the effects of rising vegetable oil prices will appear on the local market after the currently available quantities with traders are exhausted, according to opinion.
He noted that the prices of vegetable oils have risen globally in the countries of origin by about 5%, which will be reflected on the local market as traders import new quantities.
He confirmed that the prices of food items are currently stable, with no new increases in their prices.
On the global level, data from the United Nations Food and Agriculture Organization (FAO) showed an increase in the global food commodity price index during last February, driven by increases in the prices of sugar, dairy products, and vegetable oils.
According to the report, the average FAO Food Price Index reached 127.1 points in February, up by 1.6% compared to the previous month, and remains 8.2% higher than its level recorded in February 2024.
This increase was a result of a 6.6% increase in the sugar price index to 118.5 points, after three consecutive months of decline, driven by concerns of a reduction in global supplies for the 2024/2025 season, especially due to lower production in India and unfavorable weather conditions in Brazil.
The index for dairy product prices also rose by 4% to 148.7 points, due to rising prices across various types, including cheeses and full-fat milk, driven by strong demand for imports and declining production in exporting countries.
In contrast, the average index for vegetable oil prices reached 156 points, an increase of 2% from January, and 29.1% higher than its level a year earlier, due to the rising prices of palm, soy, and sunflower oils, resulting from seasonal supply constraints in Southeast Asia, and high demand from the biodiesel fuel sector.
