The edible oils market has grappled with volatility triggered by recession fears, Russia's invasion of Ukraine and governments' curbing exports to protect domestic food supplies.
The"palm oil situation is expected to remain uncertain in 2023," Malaysian Palm Oil Board Director-General Ahmad Parveez Ghulam Kadir said in a presentation to an online seminar. It will not be"as easy as the past few years," when participants were able to anticipate the market, he said. The monsoon season is picking up in Malaysia and has triggered flooding across the country, the world's second largest palm oil producer, over the past week.
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