Global palm oil prices hit 17-month highs

The article discusses the significant increase in the prices of key commodities such as palm oil, white corn in South Africa, and coffee, attributing this surge to reduced supplies from Indonesia and Malaysia and a boost in demand from producers. Notably, coffee prices have hit a 15-year high. The World Bank's analysis reveals that global food inflation is outpacing general inflation in 60 percent of the countries examined, highlighting a widespread issue of escalating food prices and its impact on consumers worldwide.