Southeast Asia's booming palm oil industry is facing a double blow from a recent drought and a possible El Nino weather phenomenon later this year, with analysts warning a production shortfall could spark a jump in consumer goods prices.
A truckload of freshly harvested fruit of palm oil trees is unloaded at a plantation in Langkat district located in Indonesia's Sumatra island on Saturday. (AFP photo)
From biscuits to shampoo and make-up, the oil has become a key ingredient in numerous products found on supermarket shelves across the globe, fuelling rapid growth of the industry in the world's top two producers, Indonesia and Malaysia.
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