Everything, “I Don’t Care if It’s Oil or Gas or Coal or Copper or Aluminum; You Name It We’re Out of It.” Tribulation In Play

This week, the price of edible oil rose, raising concerns about the possibility of food costs reaching new highs. Commodities used in hundreds of food goods, such as soybean oil, saw their highest levels since 2008 on Wednesday.

To the highest level since 2008, soybean prices rose by 1.4% to 71 cents per pound. Both US canola futures and Malaysian palm oil reached fresh all-time highs this week, with the former reaching $1,434 a metric ton.

Drought has harmed this season's soybean harvests in South America. Palm and canola, their rival oil-seeds, have also been hit hard by poor weather and a lack of workers. Sunflower oil supplies from Russia and Ukraine might be jeopardized due to rising political tensions, according to Bloomberg.

According to CGS-CIMB Securities' regional head of plantation research, Ivy Ng:

Supply-side difficulties "impact all the primary producing nations, whether palm oil or a rival oil. People are reacting to the fact that there will be no short-term respite."

Goldman Sachs' Jeff Currie said earlier this month that shortages in certain commodities might cause prices to rise. Since "we are out of everything," he continued, "we are not only in extraordinarily tight markets from a physical standpoint," but "we are also not in terribly tight markets from any other perspective."

It's possible that rising prices for edible oils will set a new record for February in the FAO Food Price Index (FFPI), a measure of the monthly change in international food commodity prices. Early in March, new FFPI data will be available. For the time being, FFPI prices are approaching a record high for January.

Manzoor Trading in Lahore, Pakistan, has a director of sales named Abdul Hameed who says edible oil is in "uncharted area" and prices might rise much higher. It's a "very, very huge concern" that "the global supply and demand scenario"

"The worst has yet to come" for lower-income households in the Western world, according to John Allan, the chairman of Tesco Plc, the world's largest retailer.

 

Update: Under Obama Orders The Biden Administration Will Intentionally Destroy the Economy Through Kill Shot Mandates, Resulting in FEMA Food Lines and Lockup Camps in the Fall of 2022

By StevieRay Hansen | October 2, 2022 |

HNewsWire: Last weekend, something remarkable (or delightful, if one is a stock bull) occurred: with the US economy on the verge of recession, with inflation topping out, and with the housing market about to crack, the last pillar holding up the US economy (and preventing the Fed from continuing its tightening plans beyond the summer),…

Satan Soldiers Will Crush the Working Poor One State at a Time — With Soaring Food, Fuel, and Shelter Inflation

By StevieRay Hansen | August 16, 2022 |

HNewsWire: At My First Defense No One Came to Stand By Me, but All Deserted Me. May It Not Be Charged Against Them! But the Lord Stood by Me and Strengthened Me, so That Through Me the Message Might Be Fully Proclaimed and All the Gentiles Might Hear It. So I Was Rescued From the…

The U.S. Government Has Suspended Imports of Mexican Avocados After a U.S. Plant Investigator in Mexico Got a Danger Threat, Food Has Been Weaponize

By StevieRay Hansen | July 2, 2022 |

HNEWSWIRE– Mexico has recognized that the U.S. government has suspended all imports of Mexican avocados after a U.S. plant well being controller in Mexico got a danger. The unexpected suspension was affirmed late Saturday just before the Super Bowl, the greatest deals chance of the year for Mexican avocado cultivators – however it would not…

Supply Chain Interruptions, Food Shortages, Inflation – All Part of the Plandemic

Putin: Biden's foreign policy and liberal energy policies have disgraced you're country

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Meet Moses! He's a young man who grew up in the most challenging circumstances. Today, he has larger-than-life goals to achieve something extraordinary.

 

SRH: Without firing a shot or launching a missile, our enemies seek to apply online digital strategies to unravel the fabric of our democracy. Our response has been to aggressively "out" those efforts and confront those who troll the American electorate.

 

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