PIXABAY
On Monday, the state-backedMalaysian Palm Oil Boardsaid 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 anIndonesian ban on palm oil exports.
Palm oil, the most widely used edible oil, is also used asbiodieselfeedstock.
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, reportsReuters.
Malaysia accounts for 31% of global palm oil supply, second after Indonesia's 56%.
