Unlikely Market Takes Key Role in Food Inflation
A worker transports harvested palm oil fruit bunches using a bullock cart at the IOI Corp. Gomali palm oil estate in Gemas, Johor, Malaysia,
Photographer: Joshua Paul/BloombergFor anyone concerned about global food inflation, all eyes are currently on an unlikely corner of the agriculture markets: vegetable oils.
While price gains for meat and dairy have been grabbing attention, futures for products like soybean oil and palm oil have also seen big recent gains. Palm prices are up close to 10% this year, and soy oil soared about 30%.