Icelandic food manufacturers lifted restrictions on palm oil due to a shortage of sunflower oil

Published 2022년 3월 28일

Tridge summary

Icelandic supermarkets, which had promised to remove palm oil from all their own branded foods due to concerns about tropical deforestation, are returning to the use of palm oil due to a sudden shortage of sunflower oil. The supermarkets will use only certified sustainable palm oil. The UK is experiencing a potential shortage of the commodity as a significant portion is stuck in Ukraine and Russia, which account for nearly 70% of the world's sunflower oil production. Malaysia, a major producer of certified sustainable palm oil, has the capacity to meet the demand but at a high premium. The price of palm oil has increased steadily since the third quarter of 2021 due to lower production in Malaysia and Indonesia, and a surge in demand caused by the conflict between Russia and Ukraine.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

KUALA LUMPUR: The sudden shortage of sunflower oil supply has forced food producers to lift restrictions on palm oil and return to this vegetable oil for their foodstuffs. Icelandic supermarkets in 2018 promised to extract palm oil from all of its own branded foods, making a comeback to this exciting crop. The supermarket has banned palm oil from its own brand of food in a bid to combat tropical deforestation. Iceland Managing Director Richard Walker reportedly expressed his remorse for having to break his pledge to extract palm oil from all his own branded goods. “The only alternative to using palm oil in its current state is to clean our refrigerators and shelves of various types of staple foods including potato products. “The move is a‘ last resort and a strict temporary measure ’and we will only use certified sustainable palm oil as an ingredient,” he said in a press report, the United Kingdom Daily Telegraph. "Iceland is finally aware of the fact that it cannot put food ...
Source: Astroawani

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