Coco-nuts pricing for oil

The price of coconut oil, an essential ingredient in ice cream, has surged to an all-time high. According to the World Bank on May 21, the wholesale price of Philippine coconut oil shipped to Europe reached $2,720 per ton, surpassing the previous peak of around $2,300 recorded in 2011. This photo shows coconut oil displayed at a hypermarket in Seoul on May 22. [YONHAP]