RUSSIAN INVASION OF UKRAINE CAUSES SUNFLOWER OIL SHIRTAGE AND COULD PROMT FAMINE IN AFRICA, SAY EXPERTS
April 25th, 2022
The international oilseeds and related vegetable oil markets are facing major disruption through Russia’s invasion of Ukraine, with global vegetable oil prices soaring, according to the UN Food & Agriculture Organisation (FAO).
Its Vegetable Oil Price Index averaged 248.6 points in March, up 46.9 points (23.2%) from February, a new record high, driven by higher sunflower, palm, soy and rapeseed oil prices. Sunflower seed oil is a key problem here, given Ukraine supplies 47% of sunflower oil exports worldwide, according to UK-based research firm ...
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