Highest ever vegetable oil prices risk even faster inflation

Highest ever vegetable oil prices risk even faster inflation

(Jan 7): More bad weather for the world’s oilseed growers is pushing rapeseed and canola prices to fresh records and adding to food-inflation worries. Futures have been on a tear for a while, after last year’s harvests in Canada and Europe were plagued by scorching drought and planting cutbacks, cutting global rapeseed stockpiles to a four-year low. Now, worries are mounting about supplies of rival vegetable oils, with hot and dry weather hurting South American soybean prospects and flooding hitting palm oil farms in Malaysia.

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