Posted on 04/25/2022 9:40:21 AM PDT by aimhigh
The world's top palm-oil producer announced that it would ban exports of the commodity starting on Thursday, sending the prices of edible oils soaring. Indonesia accounts for about half of the world's supply of palm oil, the world's most widely used vegetable oil. Palm oil is used for cooking and for the production of thousands of consumer products, including biscuits, detergents, and lipsticks.
In a video statement on Friday, Indonesian President Joko Widodo said the move was designed to bring down domestic palm-oil prices and ensure domestic food availability in the wake of global food inflation. "I will monitor and evaluate the implementation of this policy so availability of cooking oil in the domestic market becomes abundant and affordable," Widodo said, a Reuters translation reported.
The move comes as Indonesia has seen recent protests over the high prices of cooking oil, with retail prices gaining more than 40% so far this year, Reuters reported.
(Excerpt) Read more at finance.yahoo.com ...
Sounds like time to stock up on olive oil.
Palm oil is in a big chunk of lots of processed foods.
Good thing I started avoiding Franken oils more than a few years ago.
The one problem with olive oil is that adulterating it is lucrative business.
Avocado oil is less expensive - but I think it's a taste you have to get used to.
Damn! now I have to use Venezuelan beaver oil!!
Save the bacon grease
Olive, avocado, coconut.
FYI Olive is good to about 350F, Avocado is good to about 550F.
The great lipid calamity of 2022.
this would never happen when megawati sukarno putri was running things...
Palm oil - high in saturated fats - about 34%.
But I imagine it is an oil that is more readily available in some parts of the world than some healthier oils.
Odd, I don’t think I really see palm oil in many packaged food ingredient lists. Don’t think I’ve ever seen bottles of palm oil in the store either.
Corn, vegetable, canola, soybean, olive.
Sesame and peanut even.
to a large degree, cooking oils are a fungible commodity, so massive price increases in one, esp. one that represents such a large percentage of the total commodity, are guaranteed to increase the prices of all of the rest ...
Good avocado oil has no discernible flavor - same with good fractionated coconut oil.
Just received our shipments of several YUGE tin cans of our fave OO.
The tins tend to last a lot longer than the bottled version. At least, for us, anyway.
I’ve been freezing bacon grease. So many cooking uses for good bacon grease.
Palm oil is poisonous to the body..
It's also responsible for a huge amount of deforestation. Very controversial product.
Air Fryer!
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