Ten months after the National Development and Reform Commission imposed a price limit, edible oil prices have risen all the way to the fast upward path. According to the Bainer.com reporter, after the official announcement of the price increase on August 1st by Golden Dragon Fish, other big brands of edible oil companies such as Huifu and Lvbao followed suit and gradually began to experience different degrees of price increases. Many small-brand edible oils also have a certain increase in price.

After visiting the major supermarkets, Baina Net’s reporter found that almost all edible oil brand prices are currently rising, with an average increase of around 10%. Compared with late July, the larger increase was the Arowana aromatic sunflower oil. This week's average price was 94.33 yuan per barrel, up 7.8%, of which Tesco supermarket this week, the price of the product was 105 yuan per barrel. Compared with the price of 92.50 yuan per barrel in late July, it rose by 13.51%. After the price increase, the highest selling price of Desheng and Hebin stores in Hangzhou Tesco Supermarket and the lowest selling price of China Resources Vanguard. Compared with the price of 77.50 yuan per barrel, the price difference between each barrel is as high as 27.5 yuan.

In addition, Lu Hua Lu Xiang sunflower oil, Lu Hua pure first grade peanut oil, Grand Slam pure incense and reconcile also rose larger, the average price this week was 103.23 yuan, 128.99 yuan, 68.19 yuan, respectively, compared with the end of July rose 5 %about.

It is reported that on the issue of the price of edible oil, the National Development and Reform Commission had also previously interviewed edible oil companies several times and asked them to suspend the price increase. The price adjustment application of Golden Arowana was approved by the relevant departments, which broke the dark-up situation of edible oil companies, and the branded edible oil prices began to surge.

The Baina Network reporter believes that the rise in the price of edible oil is mainly due to high raw material costs such as soybeans and peanuts in the domestic and international markets, and increased transportation costs caused by rain in the country. Once the edible oil prices are adjusted upwards, they will only rise steadily and it will be difficult to come down. Therefore, whether it is peanut oil or sunflower oil, it is expected to continue to show a slight upward trend.

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