PIXABAY
On Monday, the state-backed Malaysian Palm Oil Board said countries should pause or slow use of edible oil as biofuel to ensure adequate supply for use in food, warning of a supply crisis following an Indonesian ban on palm oil exports.
Palm oil, the most widely used edible oil, is also used as biodiesel feedstock.
Global edible oil supplies were already choked by adverse weather and Russia's invasion of Ukraine, and now global consumers have no option but to pay top dollar for supplies, reports Reuters.
Malaysia accounts for 31% of global palm oil supply, second after Indonesia's 56%.
