Indonesia: Next grocery shock awaits as food giants face cooking oil risks

게시됨 2022년 4월 26일

Tridge 요약

Indonesia is set to ban some exports of cooking oil from April 28 due to a domestic shortage, a move that could increase costs for food companies like Nestle and Unilever and lead to food inflation. This ban, affecting about 30-40% of Indonesia's total palm oil exports, is expected to exacerbate the global supply tightness in vegetable oils, caused by drought, labor shortages, and the repercussions of the Ukraine conflict. The ban could also influence the balance between food and biofuels use of vegetable oils, particularly affecting countries like India and China that heavily rely on these imports. The situation could potentially stabilize if cooking oil prices return to early 2021 levels, but there are concerns about the potential impact on soybean prices, a substitute for palm oil.

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원본 콘텐츠

(April 25): Indonesia’s shock move to ban exports of cooking oil will reverberate across the world, threatening to push up costs for the likes of Nestle SA and Unilever Plc and heightening concerns about food inflation. The world’s biggest shipper, Indonesia, will halt some cooking oil exports from April 28, after a domestic shortage led to street protests over high food costs. This will squeeze already tight supplies of vegetable oils and add to the impact of Russia’s invasion of Ukraine that’s thrown sunflower oil trade into chaos. While details are emerging that Indonesia’s ban will exclude some products, it still risks stoking food inflation further. World food costs are at an all-time high and surging at the fastest pace ever. The ubiquitous use of edible oils in everything from candy to frying and fuel means that it could well be a thorn in the side of global food inflation for a long time to come. Here are the latest developments and their far-reaching impacts: The move by ...

출처: Theedgemarkets