The world will witness a significant rise in cooking oils next week
Published Apr 28, 2022
Tridge summary
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.
Original content
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 Egypt and Tunisia. Even developed countries may experience a sharp increase in supermarket prices. Palm oil is a multi-use commodity and is used in thousands of diverse products including food, personal hygiene and biofuels. Because of drought and lack of employment, prices of cooking oils rose, then the war in Ukraine came and disrupted about 80% of the total exports of sunflower oil in the world, increasing the demand for alternative oils such as palm oil and soybean ...
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