Market report oils and fats

March 2026: Gustav Heess informs about the current market situation for soybean oil, sunflower oil, rapeseed oil, olive oil, almond oil, walnut oil and pistachio oil.

 

Oil	Current Situation	Forecast	Price Trend
Soybean Oil	US soybean meal prices have increased due to stronger domestic and export demand. US soybean oil suppliers expect rising demand from biofuel producers. The premium on South American oil is widening. A large Brazilian harvest is gradually entering the market.	As the Brazilian harvest becomes more available, increasing supply is likely to put pressure on prices.	Firm in the short term, likely softer in the medium term.
Sunflower Oil	The market remains tight in the first quarter. Limited supply from the Black Sea region has pushed prices to multi-year highs. Declining inventories continue to support the market.	The tight situation is expected to persist until the new harvest in autumn.	Firm until the new harvest.
Rapeseed Oil	Positive outlook for the upcoming harvest. Winter rapeseed area in Germany increased by approx. 5%. EU crop conditions rated largely satisfactory. Fertilization delayed in some regions due to excessive rainfall. Prices remain closely linked to the energy sector and rising crude oil prices. Higher logistics costs are affecting imports.	Good harvest prospects should stabilize supply mid-term, while energy prices remain a key factor.	Currently firm, dependent on the energy market.
Olive Oil	Prices have strengthened again following disappointing harvest results in Spain (approx. 1.3 million tons expected). EU production around 2 million tons, significantly below previous years. Low inventories. Tunisia’s record crop only partially offsets shortfalls. Quality issues this year with limited extra virgin volumes and higher lampante share.	Future price development will strongly depend on flowering in May/June. Water reservoirs in Andalusia are well filled.	Firm to upward trending, high quality premiums.
Almond Oil	Almond bloom in California is in full swing. Storm systems with rain and low temperatures are affecting pollination and increasing disease risks.	The coming weeks will be crucial for crop development and the 2026 harvest outlook.	Uncertain, highly weather-dependent.
Walnut Oil	Positive industry development driven by export expansion, supply chain optimization and coordinated marketing. Establishment of the California Walnut Commission strengthens strategic positioning.	Outlook remains positive due to improved supply management and growing international demand.	Stable to slightly firm.
Pistachio Kernel Oil	Following a record crop, shipments are up approx. 9% year-on-year. The industry is entering the natural “off-year” of the biennial production cycle. Strong demand growth in key export regions, especially EU and MENA markets.	Careful supply management will be essential in the off-year, while global demand remains robust.	Firm tendency amid sustained demand growth.

 

You can find more detailed information on the Gustav Heess website.