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Why there is sunflower oil shortage in recent times? what are the other alternatives available?
Few restaurants in Germany have reportedly even stopped selling chips as cooking oil has become very difficult to get hold of
Yes, in the recent months, in the market there has been shortage of cooking oil especially the sunflower oil. The reason being, global consequences of Russian attack on Ukraine, resulted in shortage of sunflower oil. This has produced domino effect, it has pushed the prices of other edible oils such as rapeseed, palm and olive oils to record high, when both food makers as well as consumers are already grappling with inflation.
Yes, in the recent months, in the market there has been shortage of cooking oil especially the sunflower oil. The reason being, global consequences of Russian attack on Ukraine, resulted in shortage of sunflower oil. This has produced domino effect, it has pushed the prices of other edible oils such as rapeseed, palm and olive oils to record high, when both food makers as well as consumers are already grappling with inflation.
Few restaurants in Germany have reportedly even stopped selling chips as cooking oil has become very difficult to get hold of.
Why are supplies of sunflower oil running low in few nations?
Nearing to 80% of sunflower oil exports come from both Ukraine and Russia. Exports from Ukraine have fallen nearing to 95% because of Russian's attack, levgen, Osvpov at trading company Kernel. When it comes to Russia, it is still exporting the oil, but it has been said, it would impose a quote from 15th April.
Looking for alternatives
Numerous food producers are already looking for alternatives. But with the global vegetable oil prices were already at all time high before the war as well as increased demand for other oils, the most common one is rapeseed (canola, soybean and palm, which is driving up their prices even further. Palm oil is likely to be the major substitute globally as this one cheapest, stated Thomas Alcock at the technical University of Munich in Germany.
Why are the prices already so high?
A combination of rising demand across the world because people are becoming wealthier and the growing use of vegetable oil as biofuels and supply issues related to the pandemic and extreme weather. For instance, extreme heat in Canada previous year hit rapeseed yields.
Can anything be done to bridge the gap?
Yes, globally about 15% of vegetable oils are turned into biofuels, due to government subsidies as well as mandates. For example, the European union converts nearing to 3.5 million tonnes of palm oil into biodiesel each year, almost equivalent to the amount of sunflower oil exported by Ukraine and Russia. Suspending or ending biodiesel subsidies could increase the amount available for food use.
