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Vegetable oil prices have already risen more than 50% in the past six months, as factors ranging from labor shortages in Malaysia to droughts in Argentina and Canada have curtailed supplies.
Indonesian President Joko Widodo imposed the export ban citing rising inflation and wanting to ensure the availability of food products at home following Russia’s invasion of Ukraine.
Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia's surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia's invasion of Ukraine.
Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia's surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia's attack on Ukraine
Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia's surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia's invasion of Ukraine.