Corn oil shortages and price hikes driven by decline in ethanol production

Global corn oil supply has been interrupted mainly due to drastic decline in fuel consumption and ethanol production, lockdown, and extended quarantine conditions.
Ethanol is the by-product produced during the corn processing and then the oil is extracted. Ethanol production coming to a halt during the global Covid-19 pandemic and large ethanol stocks obstructed the corn oil production and the global supply. Prices are also reported to have risen amid global supply shortages.