“Cooking oil is a symbol of wealth”… Even Germany heard ‘two hands, two feet’ (Hank Yung.com) 

Hank Yung.com published an article on the worldwide shortage of sunflower oil due to the war in Ukraine. Cooling oil prices are soaring higher than grain. According to IFPRI, cheap palm oil accounted for 58 percent of the share of vegetable oil traded in the global market between 2019 and 2021. It was followed by soybean oil 14 percent, sunflower oil 13 percent, rapeseed oil (including canola oil) 7 percent, and others (olive oil and peanut oil, etc.) at 8 percent. IFPRI also said, “75 percent of countries around the world source half of their domestic cooking oil consumption from overseas.” (See IFPRI blog post, Global vegetable oil).