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2021-05-13

that’s sad :(

Chocolate’s About to Get More Expensive

2021-05-13

wow

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The tropical oil, which is found in products as diverse as chocolate, pastries, soaps, lipstick and biofuel, and is widely used in Asian restaurants, has been swept up in the global commodity rally as farm crops soar on weather worries and China’s crop-buying spree.</p>\n<p>Palm oil, which is mainly produced in Indonesia and Malaysia, is so popular that one study estimates about half of all packaged products found in supermarkets contain it. While there are alternatives -- like soybean oil and sunflower oil -- prices for those have been rising too, increasing concern over global food inflation, which is already at the highest in seven years.</p>\n<p>“We’re in uncharted waters at these levels,” said Marcello Cultrera, an institutional sales manager and broker at Phillip Futures in Kuala Lumpur. “The high prices will mainly affect costs of fast-moving consumer goods’ manufacturers in the short term.”</p>\n<p>The biggest importer is India, followed by China. 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The tropical oil, which is found in products as diverse as chocolate, pastries, soaps, lipstick and biofuel, and is widely used in Asian restaurants, has been swept up in the global commodity rally as farm crops soar on weather worries and China’s crop-buying spree.\nPalm oil, which is mainly produced in Indonesia and Malaysia, is so popular that one study estimates about half of all packaged products found in supermarkets contain it. While there are alternatives -- like soybean oil and sunflower oil -- prices for those have been rising too, increasing concern over global food inflation, which is already at the highest in seven years.\n“We’re in uncharted waters at these levels,” said Marcello Cultrera, an institutional sales manager and broker at Phillip Futures in Kuala Lumpur. “The high prices will mainly affect costs of fast-moving consumer goods’ manufacturers in the short term.”\nThe biggest importer is India, followed by China. 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