The world’s most consumed edible oil is facing a supply crunch

(Oct 25): Palm oil production in Malaysia is on course for its weakest showing in five years as planters grapple with the worst-ever labour shortage in the second-biggest grower, and the low yields are likely to last through March. The country’s output may slide below 18 million tons this year, according to Datuk Nageeb Wahab, the chief executive officer of the Malaysian Palm Oil Association, a grower group that represents 40% of palm plantations by area. That’s a drop of at least 6% from last year and the lowest annual volume since 2016. Palm, the most consumed edible oil, has been a leading driver of this year’s stunning rally in global vegetable oil markets. Lower supplies in Malaysia and a crop disaster in Canada, the top grower of canola, have coincided with pent-up demand as economies reopen. Palm oil has repeatedly notched fresh records, while canola climbed to an all-time high and soyoil hit a 13-year peak in May. “Even before the pandemic, we were already short of workers ...