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Vegetable Oil Prices to Increase by 13%

Vegetable Oil Prices to Increase by 13%Vegetable Oil Prices to Increase by 13%

Given the rise in global prices of unprocessed edible oils and other costs, the consumer prices of products packaged in PET containers will increase by 10% and those packaged in other types of containers by 13% as per the decision of Market Regulation Headquarters this week.
“A total of 400,000 tons of unprocessed oils have been made available by Government Trading Corporation of Iran, an affiliate of the Ministry of Industries, Mining and Trade, in charge of importing four essential items, namely sugar, rice, vegetable oil and wheat. The import of an additional 300,000 tons is in progress,” Abbas Qobadi, a senior official with the ministry, said on Sunday. 
Referring to the monthly consumption of 100,000 tons of unprocessed oils in Iran, Qobadi said, “To calm the turbulent market of edible oil, we’ve decided to increase imports, production of hydrogenated oil and the distribution of this essential product,” he was quoted as saying by IRIB News. 

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