The price of soyabeans has surged to levels not seen since the global food crisis of 2007-08 as bad weather in Latin America hits production of the commodity used to produce animal feed and edible oil.
The surge in soyabean prices is also boosting the cost of other sources of edible oil, including European and Canadian rapeseed and palm oil in Asia.
Although soyabean is less known than cereals such as wheat, rice and corn, it plays a crucial role in the global food chain, providing animal feed to fatten the rising number of cows, sheep, pigs and poultry the world consumes.
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