Foshan edible oil prices fell by nearly 40%

The international price of oil and fat raw materials is weak, and the domestic oil production is harvested, driving the price of local edible oil down.

“The price of edible oil is reduced by 20%?” According to media reports, there are still two months before the Spring Festival. At present, the edible oil of many brands across the country has gone against the market to cut prices, and some brand prices have fallen by 20%. The reporters visited a number of supermarkets in Foshan yesterday and found that the price of edible oil in Foshan has also declined. Some supermarket procurement personnel revealed that although the price of imported soybeans, one of the raw materials for food oil, has been dipping, others such as peanuts have had a poor harvest this year, so the purchase price of food oil is still constrained by many factors.

Site: The highest drop of nearly 40%

According to the monitoring data of Foshan City, on December 9th, except for the Lu flower crushing first-grade peanut oil 5L 139.3 yuan, which is 1.38% higher than that in June, other prices have been lowered. Orchid flower peanut oil fell by 2.36% compared with June. Arowana peanut oil dropped by 0.8 yuan from June. Rapeseed oil slipped slightly by 2%; blending oil decreased by 2.53%; soybean oil decreased by 2.65% compared to the previous month; corn oil decreased by 2.86%.

The reporters visited several supermarkets yesterday and found that supermarkets chose more than 5 liters of large-scale edible oils, and used regular promotions to select several ways to lower prices or send small gifts. In China Resources Vanguard, Lu spent a level of RMB 144.9 yuan for 5 liters of peanut oil at a price of RMB 135.9 yuan, and sent a small stick of soy sauce to soy sauce; Jinlongyu corn oil was sold at 61.8 yuan at 4 liters and was now at 45.9 yuan; Fulinmen Tea seed olive oil blending 4 liters installed the most severe decline, the original price of 77.8 yuan, current price 45.8 yuan, a decline of nearly 4 percent.

Although there are many kinds of edible oils in the Lotus Bee Lotus, they only take a few of them for special prices. Such as Lu spent a level of peanut oil 5 liters original price 139.8 yuan, now slightly reduced to 135.8 yuan, and then send a bottle of fresh soy sauce 160ml. Orchid Flower Special Peanut Oil 5.436 liters original price 129.8 yuan, now special price 99.8 yuan. The eagle corn oil 5 liters is 45.9 yuan.

Analysis:

Decline meets national requirements

Insiders pointed out that more than 80% of the soybeans used for oil extraction in China are imported, and the price of imported soybeans has fallen sharply since July of this year. At the same time, the import volume has been increasing, which is the main reason why edible oil prices tend to go lower. "The price of imported soybeans dropped from 4,200 yuan/ton last year to 3,600 yuan/ton." The reporter visited a number of supermarkets in Foshan yesterday. The supermarket said that some commodities belong to conventional specials, and the price cut period is two weeks, not because of external factors. A supermarket purchaser revealed to reporters that although the price of imported soybeans, one of the raw materials for food oil, was dipping, others such as peanuts had a poor harvest this year, so the purchase price of food oil was still constrained by many factors.

The Foshan Development and Reform Bureau believes that apart from the impact of weak international oil and fat raw materials prices, the production of some domestic food oil crops will be harvested, and the price of edible oil raw materials will be lowered, which will also lead to a gradual reduction in the retail price of Foshan food oil. In addition, the weakened market demand is also the reason for the price cuts.

"According to the monitored data, the current decline in food oil in Foshan meets the requirements of the state." The relevant person in charge of the Foshan Development and Reform Bureau stated that the price of food oil is regulated by the market, but when the price changes, Foshan City will take temporary intervention. Measures will be adjusted to stabilize market prices and ensure market supply.