Palm oil at the peak of a decade

By: Trademagazin editor Date: 2021. 01. 22. 11:11

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From chocolate to toothpaste, the price of palm oil used in almost every food or household item has risen to a peak of almost a decade, and prices seem to be gaining even more momentum. On the other hand, it is a pity to mourn: slavery, the destruction of the environment are the price of palm oil – napi.hu wrote.

In Malaysia and Indonesia, which account for about 84 percent of the world’s palm oil supply, labor shortages caused by the coronavirus pandemic have reduced production, while major consumers, China and India, are buying more of the product. This is exacerbated by the fact that the third largest producer, Malaysia, reported rare poor production data -according to Food Navigator’s market report. (napi.hu, Szabó Dániel)