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Palm oil prices hit record due to Ukraine disruptions, but pressure expected to ease
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The high prices of palm oil will impact consumers as it is used in many packaged products.
PHOTO: REUTERS
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SINGAPORE - Palm oil is now trading at record levels as buyers rush to secure replacements for sunflower, soya bean and rapeseed oil shipments that have been disrupted by the Russia-Ukraine war.
The high prices of palm oil - it is now the costliest among the four major edible oils - will impact consumers, given that it is used in many packaged products, from margarine and chocolate, to shampoo and lipstick.
