World sees cooking oil shortages & skyrocketing prices

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[Picture: Food24]

The world is seeing a growing shortage in cooking oils and subsequent sky-rocketing prices.

Executive Director of Oil World Thomas Mielke says the shortages being observed internationally is partially due to climate change and labour shortfalls. However, the Russia-Ukraine conflict also had a hand in the increasing oil prices.

Oil World – a market research group estimated that sunflower seed and oil production from Ukraine could decline by around five-million tons in 2022.

Mielke adds that urgent pressure needs to be placed on officials to heed their warning and put a damper on using food oils for to produce biofuel.

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May 20, 2022
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