The direct impacts of the Russian invasion in Ukraine are being felt around the world, as crude oil prices are soaring and many other products are increasing in price.
Next to increases in price, the availability of many grains and crops has decreased ever since Ukrainian farming and exports have come to a halt. Global prices for wheat and corn have gone up a lot in the last two weeks, fueled by lower global supply through exports from Ukraine.
Next to disruptions in the supply of current crops, current Eastern European tension has driven prices for production for future crops up as well. Fertilizer prices have started climbing due to the increased oil prices, which will massively reduce the profitability of future crops. All contributing to an even more imbalanced supply and demand for vegetable oils in the next season(s). Currently it is profitable for farmers due to the high crop prices, but it is uncertain if this profitability will remain.