Ukraine conflict hurting palm oil supplies

"As the sunflower oil from Ukraine or Russia fell away, those countries have 60% lower production there. People are looking for replacing oils and, of course, there's more demand for palm oil," said Ahold CEO Frans Muller, speaking from the Consumer Goods Forum's Global Summit conference in Dublin.

LONDON: Sustainable palm oil is becoming harder to find as food manufacturers use it to replace sunflower oil sourced from Ukraine and to meet environmental goals, Ahold Delhaize's AD.AS CEO told Reuters.

Palm oil, whose production is known for devastating rainforests in Indonesia and Malaysia, has for decades been a public relations problem for the retail and consumer goods industry.