Reported about 8 hours ago
The demand for biodiesel, particularly in Indonesia, combined with stagnant palm oil production, is driving up prices for cooking oil globally. As Indonesia increases the blend of palm oil in biodiesel, output has begun to decline, leading to higher costs that could persist for years. With palm oil now commanding a premium over other oils, consumers in major markets like India face rising prices, complicating inflation management efforts. Experts warn that unless Indonesia resumes granting new plantation permits, prices may continue to rise due to supply constraints.
Source: YAHOO