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The meteoric rise in palm oil prices is poised to inflate costs for everyone from restaurants to confectionery and cosmetic manufacturers, and could potentially change consumption patterns.The world’s most consumed edible oil has surged more than 120 per cent in the past year and burst through 4,500 ringgit (US$1,091) a ton to a record on Wednesday.The tropical oil, which is found in products as diverse as chocolate, pastries, soaps, lipstick and biofuel, and is widely used in Asian restaurants…Read More
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