Global Palm Oil Crisis 2022 and Inflation

Having earlier worked in innovation functions in palm oil sector in collaboration projects with top Malaysian players like Sime Darby, Felda etc in my previous company, it bugged me in 2013-14 that why India is not taking oil palm cultivation seriously in India.

Even if we didn’t had HYVs like Malaysia or Indonesia, still a 20% OER in a more arable land would have sufficed our edible oil requirements.

One technical thing here for everyone to understand that an oil palm matured only after 7-8 years and remains in healthy mode till the 22-25th year of age and after that, it’s pruned out and new plantation is done.

Here, planning of agriculture and forecasting a demand and supply with a 10 years ahead vision is so imperative for future security.

Current issues like oil palm Export ban from Indonesia, or invasion of Ukraine by Russia or drought situation of Argentina…all are oil/fuel reserves of the globe and all are under stress.

Check: https://www.instagram.com/reel/Cc6-fEZJM-l/?igshid=YmMyMTA2M2Y=

There is no doubt in my mind that all these will have extreme impact on inflation in India. And there could be few more international surprises as well in near future.

I think the purchase department of every FMCG company using palm oil should pre-book it for a 12 months period.

If they do that, then inflation will come sooner. Another point is the chef and food bloggers should start working on low oil or no oil post in their #Instagram handles.

Hope, this can atleast influence 1-5% of Indians to use less oil in cooking.

Do share below how you will be countering palm oil crisis for your company or for your home for next 12 months...Thanks..