War Sparks Global Scramble for Cooking Oils
WSJ reporting on the loss of sunflower oil from Ukraine causing a glocal rise in all edible oils.
“Filippo Berio (Italian olive oil maker) is planning on raising the prices of its olive oils globally by about 20%, with rises in some places starting in May once existing supplies run out. “Because of the scale of the increases, olive crushers are not delivering at prices contracted at in February,” said Mr. Zanre. “They are demanding the new market price in order to deliver.””
Good time to be a vertically integrated oil company.
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