Russia, facing sanctions from the West for its invasion of Ukraine, will now export grains to other nations only in exchange for rubles. In addition to grains, the Russian government has added sunflower oil and extracted meal to the list of export items to be paid in rubles. A resolution to this effect was adopted…
Russia Imposes Ruble Restriction on Countries Buying Wheat and Sunflower Oil
July 3, 2022
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Business & MarketseconomyEuropeInternationalMarketsRussia-Ukraine WarRussian rubleRussian sanctionssunflower oilwheat exportWorld
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Ukrainian President Warns of ‘Severe Food Crisis and Famine’
June 12, 2022
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Business & MarketseconomyEuropefood crisisInternationalMarketsRussia-Ukraine Warsunflower oilUkrainian President Volodymyr Zelenskywheat exportWorld
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Ukraine’s President Volodymyr Zelenskyy warned of a global food crisis following Russia’s invasion of his country, during a virtual speech addressing attendees at the Shangri-La Dialogue in Singapore on June 11. “The world will face an acute and severe food crisis and famine,” he said to the 575 delegates from 40 countries at the dialogue,…
Health Canada Watching ‘Potential’ Impact of Sunflower Oil Shortage on Baby Formula
Health Canada says it is preparing for the possibility that a shortage of sunflower oil could further strain baby formula supplies in Canada. The federal agency says it’s “working closely with manufacturers” that rely on sunflower oil as a key ingredient to produce formula that still meets Canadian standards. That includes efforts to speed up…
Unilever Using Rapeseed Oil Following War-Induced Shortages of Sunflower Oil
British multinational consumer goods company Unilever has altered some of its recipes to use rapeseed oil instead of sunflower oil owing to a global shortage of the latter triggered by Russia’s war against Ukraine. Edible oils are the “most significantly impacted commodity sector” that Unilever is currently dealing with, according to the company. “One of…
France Gives Leeway on Food Labels as Firms Switch From Sunflower Oil
April 27, 2022
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Business & EconomyCompanieseconomic policieseconomyEuropefood labelFranceInternationalMarketsRussia-Ukraine Warsunflower oilWorld
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PARIS—France will give food companies up to six months to change product labels to reflect recipe changes if they replace sunflower oil, supplies of which have been strained by the war in top exporter Ukraine, the economy ministry said on Tuesday. Ukraine usually accounts for about half of global exports of sunflower oil, one of…
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