The fear of waking up one morning to realise our grocery budget is no longer enough is speedily befalling us. I know most of us have taken on a non-committal stance toward the global market. Some even care less about the onslaught in Ukraine. They'd say: "As long as it doesn't get to me, it doesn't concern me!"🤷♂️But I think it's time to pay attention to how deep the holes in people's pockets are getting. Last month, following a rise in demand for alternatives to Russia and Ukraine's edible oils, Indonesia, the world's largest producer placed a ban on export to meet local needs. Could this be why the prices of palm oil, soap, margarine, body cream, etc., tripled in your country?In this issue of VA Weekly, you see how emerging economies in Africa are bearing the brunt of Indonesia's crude palm oil ban.Ishioma Emi,Staff Writer, Ventures Africa.
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No palm oil, no cry😢
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The fear of waking up one morning to realise our grocery budget is no longer enough is speedily befalling us. I know most of us have taken on a non-committal stance toward the global market. Some even care less about the onslaught in Ukraine. They'd say: "As long as it doesn't get to me, it doesn't concern me!"🤷♂️But I think it's time to pay attention to how deep the holes in people's pockets are getting. Last month, following a rise in demand for alternatives to Russia and Ukraine's edible oils, Indonesia, the world's largest producer placed a ban on export to meet local needs. Could this be why the prices of palm oil, soap, margarine, body cream, etc., tripled in your country?In this issue of VA Weekly, you see how emerging economies in Africa are bearing the brunt of Indonesia's crude palm oil ban.Ishioma Emi,Staff Writer, Ventures Africa.