Record high soybean oil prices are being driven by a combination of factors including Indonesia's export ban on palm oil, loss of sunflower oil shipments from Ukraine, and drought in Argentina, the world's top soybean oil exporter. These issues, coupled with surging demand for food and biofuels as COVID-19 restrictions ease, have led to a significant increase in global vegetable oil prices. The United Nations food agency reported a nearly 13% rise in food prices in March, and arguments in articles point out the potential for further food inflation due to these supply challenges.