International food prices are barely one per cent up year on year, according to the latest FAO Food Price Index for March. Likewise, in 2008 — the year when Brent scaled its all-time-high of $147.5 per barrel on July 11 — there was an oil as well as food price shock. Indonesia plans to launch B50 — conventional diesel containing 50 per cent fatty acid methyl ester derived from palm oil — from July 1. The world’s largest palm oil producer already has a mandatory 40 per cent biofuel blend programme. Others, such as the US, are also likely to ramp up their biofuel mandates, whether from soyabean oil or maize.

Source: Indian Express April 06, 2026 08:50 UTC