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China's Edible Oil and Liquor Prices Soar

2010-11-02 22:52 1500

BEIJING, Nov. 2, 2010 /PRNewswire-Asia/ -- Frbiz (http://www.frbiz.com/products/) reports that international agricultural price pressure is gradually filtering over to China's products. Recently, as a result of agricultural price increases, not only are Chinese agricultural export prices rising, but also the cooking oil appears to be newly rising.

However, Frbiz's analyst predicts that Chinese edible oil prices increases have limited space to keep rising.

Many enterprises increase in the price of cooking oil

Frbiz reports that from January to October, the average retail price of seed oil, soybean oil, peanut oil, and soybean oil increased year-on-year by 0.1%. In the third quarter, the four main cooking oil composite average retail prices dropped 0.33%, year-on-year increased 1.1%.

Why the rise in edible oil prices?

Frbiz analyzes that on the one hand, soybean and international agricultural futures prices have risen considerably, resulting in the recent import soybean prices increased. On the other hand, the national grain & oil institutions predict that this year China's rapeseed oil year-on-year decreased 5%, soybean cut down production 1.3%, and imported cooking oil year-on-year decreased 4%, which also all promoted edible oil prices.

It is reported that in July, high-end liquor prices soared; in August, maotai and wu liang ye all went up.

Each year during China's Annual Mid-Autumn festival and Spring Festival, liquor consumption rises, especially for high-end liquor brands. And this year, the raw material for liquor continued to increase, plus the liquor consumption tax and other provisions support factory's increased prices. A new round of liquor price booms may break out.

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Source: Frbiz.com
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