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Cooking Oils Surge Is Sign Food Inflation Can Go Even Higher

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Beef, Bacon, Car Prices Surging Due to Inflation

A fresh spike in cooking oil prices is increasing concerns that global food costs are heading for a record as drought curbs production in South America, a labor shortage stymies output in Malaysia and Indonesia limits exports to safeguard domestic supplies.

Palm oil, the world’s most consumed cooking oil, climbed to yet another intraday record in Kuala Lumpur on Monday, buoyed by shipment restrictions in top grower Indonesia and a chronic worker shortage in Malaysia’s plantations.