(Image via PC Financial.)
The cost of living is about to get even
costlier.
Indonesia ships around a third of the world’s edible oil cargoes and has imposed a sweeping ban on palm oil exports.
Indonesian palm oil is the world’s most consumed edible oil. Vegetable oils are used in everything from cooking to candy, lipstick, and fuel.
After Russia’s invasion of Ukraine impeded exports of sunflower oil, it has been on a tear lately, since there was already a shortage of oils caused by drought and labor woes. Demand is soaring, but there are possible alternatives.
Arcadia Biosciences Inc. (NASDAQ: RKDA, Forum) is developing high-value crop improvements primarily in wheat, soy, and hemp, designed to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients, health, and wellness products, and their viability for industrial applications. It has used advanced breeding techniques to develop these proprietary innovations which it is now commercializing.
In the company’s
financial and business results for Q4 2021 and full year 2021 released earlier this spring, it noted that it had acquired ProVault, a CBD-infused sports performance formula, SoulSpring, a CBD-infused botanical therapy brand and Saavy Naturals body care products.
Arcadia gained access to distribution channels and relationships in more than 5,000 stores nationally as part of the transaction, along with the Lief manufacturing operations, which occupy an 1,800 sq. metre, GMP-licensed, ISO-certified manufacturing facility.
(Arcadia Biosciences Inc. stock chart – January 2022 to April 2022. Click to enlarge.)
Arcadia Biosciences Inc. stock has risen 20% over the last three months.