Ukraine crisis sends sunflower oil price soaring and casts a shadow over Ramadan

The Ukraine crisis has sent global sunflower oil prices soaring and cast a shadow over Ramadan meals, with the cooking ingredient now too expensive for many people in Lebanon and other Muslim-majority countries in the Middle East.

Ukraine and Russia account for more than 80% of global exports of sunflower seed oil, and prices for the culinary staple jumped 64% in a single week in late March. 

Last month, when Russia began its invasion, the Food and Agriculture Organization (FAO) said its vegetable oil index jumped 8.5% to a record high. 

In Lebanon, where a deep economic crisis has caused food prices to rise 11 times since 2019, according to the World Food Programme, the impact of spiraling wheat, cooking oil, and fuel costs are particularly sorely felt.

During the holy month, which starts on 2 April, Muslims break their daily fast with evening meals known as “iftars”, typically featuring large platters of rice, meat, and deep-fried savoury pastries. Many of these dishes require copious amounts of oil to cook. 

In Lebanon, a one-litre bottle of sunflower oil is nearly 10 times more expensive than it was three years ago, and scarce imports mean supermarkets are rationing purchases to one bottle per customer. 

“The demand is much greater than the supply we have,” said Rasha Beydoun, who heads “Make A Difference”, an organisation that distributes basic goods to vulnerable households in Lebanon. 

Families that used to be able to afford the once-inexpensive cooking oil are now asking for it to be included in their food parcels, but her group is struggling to get hold of sufficient supplies, she said.