date:May 30, 2012
The cheap prices are mainly being driven by low current demand and over-supply.Output in 2011-2012 in Spain, the worlds top producer of the commodity, is forecast at a record 1.56 million tonnes, up 13% year-on-year,Nick Peksa, director for market analyst Mintec told FoodNavigator.
This has been met with subdued demand on the domestic market as consumers have switched to the comparatively cheaper sunflower oil in order to cut down spending during this period of global financial uncertainty. S