February 3, 2023

Sunflower Oil ‘Vanishes’ as Ukraine War Grinds On

1 min read

“Everywhere you look today, the tide of protectionist sentiment is flowing.

Katie Dennis, a spokeswoman for the Consumer Brands Association, said in a report this month that further price increases would “increase the challenging cost environment that US companies have been competing with since last year.”

Other countries are feeling the pinch: According to the US Department of Agriculture, Ukraine’s main export markets last year included India, China, the Middle East and North Africa, and the European Union. Rima 1000, a supermarket chain in Norway, Is considering a return to palm oil sales.It was previously banned for environmental reasons, and its Danish affiliation has limited buyers to three bottles of oil.

But industry analyst group Oil World said Indonesia’s restrictions on palm oil exports, global climate shortages and war-torn markets could exacerbate that view. In a report on Wednesday.

In Norway, Christopher Harlem, chief importer of importers Harlem Foods“Some European companies are meeting the current demand for sunflower oil by drowning it in their stockpile,” he said.

“At some point, no more oil will be added to the reserves,” he said. “I can’t hold sunflower oil right now, not in any volume that counts.”

“I think we’re going to have to deal with the shortcomings ahead, without a doubt, and start thinking about adaptation and change,” he added.

Henrik Prizer Label Cooperation reporting.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *