Finding cheap oil is impossible. And it is not this news that is likely to change things! We take stock!
Caution, risk of oil shortage
After two years of pandemic, we really thought we would find our bearings of life before. Unfortunately, on February 24, Vladimir Putin decided to invade his Ukrainian neighbor. The television news jostling their programs and the debates follow one another. In his strategy, the Russian president obviously did not anticipate that the locals would defend themselves tooth and nail. Be that as it may, this conflict crosses borders and completely disorients the planet. Everywhere, we are organizing to collect donations while blocking the resources of the oligarchs.
Although Emmanuel Macron tries to mediate between the two rivals, he realizes that this has an impact on the morale and purchasing power of the French. Sunflower oil is just the tip of the iceberg. Moreover, if you want to know how the producers try to pull out of the game sometimes with dubious manners, we invite you to consult this article urgently. However, in recent hours, another food has been talked about. Like always, Objeko investigated and explains everything to the smallest detail.
When oil becomes a luxury
Indonesia today began suspending all exports of palm oil, of which the country is the world’s largest producer, at the risk of destabilizing a vegetable oil market already at its highest since the war in Ukraine. #AFP pic.twitter.com/y8VKNX0OiL
– Agence France-Presse (@afpfr) April 28, 2022
Often criticized, palm oil is the bane of fervent defenders of ecology. So when they heard that Indonesia was cutting the floodgates, they had to open a bottle of champagne. Let’s not forget that this country is responsible for just over a third of world exports. Alas, this shattering announcement is even more likely to tie the hands and feet of manufacturers. Already the price of this herb is pulverizing unprecedented heights. How to get it? For those who actually have their job, it’s a double penalty!
— AsiaNews (@AsiaNews_FR) May 1, 2022
The Jakarta authorities try to justify themselves in the following way. For lack of work and without resources to meet their basic needs, a wind of panic is blowing in the population. In order to curb it, the decision is made to devote all the production of palm oil to them. Inevitably, the suspension abroad is not well accepted. Obviously, it would only be temporary. The less thanObjeko can say is that the rest of the world is watching price changes. If it drops below a reasonable threshold, then things can go back to normal. But tomorrow is not the day before!
Manufacturers in panic
Where do you find palm oil? Pretty much everywhere! Certainly, a handful of brands try to show their credentials to the suspicious by indicating that they do not use it in recipes. More and more variations of everyday products are emerging. Often present in processed foods, we do not yet fully understand its impact in the body. For the others, now that they’re going to have to do without for quite a while, what can I replace it with? Taken aback, it is absolutely necessary to find a solution urgently.
Imagine that this oil is not only intended for food production chains. If you look at the labels of your favorite cosmetics, there are some too! For those who have always boycotted it, it seems totally crazy and unreasonable. However, they had sounded the alarm many times without finding suitable replacements. If you’ve never seen the procedure for making it, it’s simple. After picking it, you have to quickly squeeze the fruit from the palm tree. Because of its difficulties in preserving this harvest, one wonders how the Indonesians will manage without having a warehouse suitable for this surplus production. The choice to reopen exchanges with customers around the world could fall faster than we think… Fingers crossed as hard as possible! The rest will be in the next issue of Objeko… see you soon for new adventures!