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Palm oil resurgent as Russia’s Ukraine war threatens global food supplies

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As the war in Ukraine compromises global food supply, corporations and governments have turned back to palm oil. The most widely consumed vegetable oil on the planet has been linked to worker exploitation and deforestation of some of the most biodiverse forests on the planet.

Chains in the United Kingdom and around Europe had made efforts to move away from palm oil. The European Union even voted to phase out palm-oil-based biofuels by 2030.

Experts consider oil palm trees an extremely efficient crop, capable of producing high quantities of oil almost all year.

Malaysia and Indonesia produce about 85% of the world’s supply. While Indonesia has limited its exports, Malaysia said it plans to leverage the global oil shortage and use it to its advantage.

Reuters contributed to this report.

MAHMOUD BENNETT:

THE WAR IN UKRAINE IS COMPROMISING GLOBAL FOOD SUPPLY AND IT’S PUSHING EVERYONE TO A QUESTIONABLE ALTERNATIVE – *PALM OIL*

 

*YEAH* IT’S THE MOST WIDELY CONSUMED VEGETABLE OIL ON THE PLANET BUT IT’S BEEN LINKED TO WORKER EXPLOITATION AND THE DEFORESTATION OF SOME OF THE MOST BIODIVERSE FORESTS ON THE PLANET

 

THAT’S WHY CHAINS IN THE U.K. AND AROUND EUROPE PREVIOUSLY MADE EFFORTS TO MOVE AWAY FROM IT – THE EU EVEN VOTED TO PHASE OUT PALM-OIL-BASED BIOFUELS BY 2030 – BUT IT MAY SOON MAY BE THEIR ONLY OPTION

 

PALM OIL IS FOUND IN EVERYTHING FROM ICE CREAM, CHOCOLATE TO DEODORANT AND SHAMPOO

 

IT’S POPULAR BECAUSE OIL PALM TREES ARE AN EXTREMELY EFFICIENT CROP – PRODUCING HIGH QUANTITIES OF OIL ALMOST ALL YEAR ROUND

 

THAT’S WHAT MAKES IT SO ATTRACTIVE TO PRODUCERS – WHO ARE CONSTANTLY EXPANDING – TO KEEP UP WITH DEMAND

 

RIGHT NOW MALAYSIA AND INDONESIA PRODUCE ABOUT 85% OF THE WORLD’S SUPPLY – AND WHILE THE GOVERNMENT OF INDONESIA SLAPPED LIMITS ON THEIR EXPORTS, MALAYSIA SAYS IT PLANS TO LEVERAGE THE GLOBAL OIL SHORTAGE AND USE IT TO THEIR ADVANTAGE