The world will witness a significant rise in cooking oils next week

Published 2022년 4월 27일

Tridge summary

Indonesia's decision to halt edible oil exports, effective the next day, could double global food issues and increase costs for companies like Nestle and Unilever, potentially leading to food price inflation. This adds to the disruption caused by Russia's invasion of Ukraine on the sunflower oil trade. With Indonesia being a major exporter of edible oils, mainly palm oil, the ban could significantly increase global food prices, affecting both developing and developed countries. The ban could also have mixed impacts on Malaysia, the world's second-largest palm oil producer, potentially increasing sales and profit flow for agricultural producers and boosting export revenue. However, the ban could also lead to higher food prices in Malaysia and reduce domestic supply, especially for oil refineries.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Tomorrow, Indonesia's decision to stop edible oil exports will enter into force, a step that doubled the world's food troubles and deepened the gap in various parts of the world, threatening to increase costs for companies such as "Nestle" and "Unilever", thus reinforcing fears of food price inflation. Squeezing the already scarce supply of vegetable oils, it adds to the negative impact of Russia's invasion of Ukraine, which has caused chaos in the sunflower oil trade. Global food costs are at an all-time high, and are rising at a faster pace than ever before. Read also | Newspaper: The International Monetary expects Russia to emerge from the 6 largest economies in the world by 2024, and the widespread use of edible oils in everything from sweets to cooking and fuel, it may become a reason to increase the wave of rising global food prices for a long time to come. Indonesia exports a third of the world's exports From edible oil, from crises facing emerging markets from Sri Lanka to ...

Source: Akhbarelyom