China's edible oil prices rise, soy oil rises by 50% in six months

Published 2021년 1월 16일

Tridge summary

The article reports a significant increase in the prices of edible oil, particularly soybean oil, in China, with prices rising by 50% in the past six months, reaching about 175 yuan a barrel. The rise in edible oil prices is attributed to factors such as increased demand from the catering industry, expected decline in production in major soybean producing areas, and import tariffs on US soybeans. The price of non-staple foods, including fresh vegetables and fruits, has also seen a significant increase, with green pepper, winter melon, and cabbage seeing price increases of over 30%. The price hike in food items has led to concerns among the public about the impact on living costs, especially amidst unemployment and economic challenges due to the epidemic.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Epoch Times January 16, 2021] (Epoch Times reporter Liu Yi reported) Recently, the price of edible oil in mainland China has continued to rise. Soybean oil prices have risen by 50% in the past six months. As the Chinese New Year approaches, the prices of various non-staple foods are rising. According to a CCTV financial report, a Shanghai wholesaler said that soybean oil was more than 120 yuan (RMB, the same below) a barrel in the first half of last year, and now a barrel is about 175 yuan, a barrel increase of nearly 50% over the first half of the year. Wholesalers said that the price of 175 yuan a barrel is 20 liters of large package soybean oil, which is mainly sold to the catering industry; while a box of 4 barrels, 5 liters of small package soybean oil is more expensive. Some consumers say that recently The price of soybean oil is getting higher day by day. The price of a barrel of 5 liters of non-GMO soybean oil has risen by about 10 yuan compared with three months ago. Not ...

Source: Epochtimes