Palm oil prices hit record due to Ukraine disruptions, but pressure expected to ease

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.

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