Vegetable oil prices soar, far outstripping other food inflation (Washington Post)
Washington Post published an article on how the war in Ukraine, drought, and competition with biofuels have put the squeeze on food oils. According to IFPRI (see the blog post, The impact of the Ukraine crisis on the global vegetable oil market), the rising cost of cooking oil. Extreme weather and the war in Ukraine have tightened global supplies of the four most commonly used types of vegetable oil — staple ingredients that are as ubiquitous in home kitchens as they are in restaurants and packaged foods. In low-income countries, cooking oil represents one of the biggest weekly expenditures for poor families and the source of about 10 percent of the world’s daily calories.
