Your shopping bill to get even higher. Blame Indonesia's palm oil ban

Indonesia’s palm oil export ban kicked off Thursday in one of the most drastic cases of food protectionism since the war erupted in Ukraine. 

The top shipper imposed a sweeping ban on cooking oil exports, covering palm oil products across the value chain. It’s hard to overstate the importance of the tropical oil as it’s found everywhere today -- in food, soap, lipstick and even printing ink -- which makes Indonesia’s move important for the world. 

The move adds to the impact of Russia’s invasion of Ukraine, which plunged the global edible oil market into disarray. With food costs surging to all-time