A major energy and food crisis is unfolding as a result of the war in Ukraine.
Russian President Vladimir Putin is forcing European nations to pay in rubles for Russian gas. And the European Union is worried about the acute shortage of sunflower and rapeseed oils that may cause a dent in the food industry.
MUMBAI, Sept 19 — Farmers across Asia are busy planting trees to boost palm oil production but nurseries are struggling to keep up with demand for sprouts and seedlings, risking a delay in the industry’s recovery from the Covid-19 pandemic.
The seedlings shortfall could slow plantation, capping production growth and keeping palm oil prices FCPOc3 elevated, industry officials said, as the world already grapples with lofty inflation. Asia produces more than 90 per cent of the world’s cheapest edible oil used in cooking, baking and cosmetics.