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Here’s why edible oil markets are simmering
2022-04-27 00:00:00.0     星报-商业     原网页

       

       Indonesia's ban on palm oil exports has pushed prices to record highs and forced top importers to look for replacements.

       STORY: Palm oil is by far the most produced and traded globally

       So an Indonesian ban on exports is sparking alarm

       Palm oil goes into products from cookies to detergents

       Around 77 million tonnes were expected this year

       60% from Indonesia, and 25% from Malaysia

       Soybean oil is number two with around 59 million tonnes this year

       Prices soared to a record high following Indonesia's ban

       China, the U.S., Brazil and Argentina are the largest producers

       The U.S. has long-term plans to up production for biofuel

       Rapeseed oil production is expected to top 29 million tonnes in 2022

       Europe, Canada and China feed a big demand from places like the U.S.

       Drought and crop damage slashed 2021 harvests, also reducing supply

       Sunflower seed oil supplies have been hit by the Russia-Ukraine conflict

       They account for 55% of global output and 76% of world exports

       China, India and Europe are scrambling to find alternatives

       


标签:综合
关键词: record highs     expected     Indonesia's ban     palm oil exports     tonnes     Russia-Ukraine     supplySunflower    
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