Cooking Oil Price Surge Could Cause Riots, Snickers Shortages

Cooking Oil Price Surge Could Cause Riots, Snickers Shortages

Food producers are starting to run low on soybean and palm oil, amid demand from developing countries like China and India. According to Bloomberg, companies such as Nestle and Unilever, which use oil in everything from mayonnaise to Snickers, will see oil inventories fall by 12% this year. Food prices spiked in September to levels not seen since 2008, when high prices and shortages caused riots in Egypt, Haiti and elsewhere. [More]