Economy, Domestic Economy

Vegetable Oil Prices to Rise 6%

Vegetable Oil Prices to Rise 6%Vegetable Oil Prices to Rise 6%

Vegetable oil prices are to increase 6% after two years of price stability, said the Secretary of Association of Vegetable Oil Producers. “Vegetable oil prices will increase based on a new legislation that stipulates a 6% increase in the prices of basic commodities due to hikes in fuel and energy prices,” IRNA quoted Mohammad Qebleh as saying. He added that the Association of Vegetable Oil Producers has recently pledged to purchase oilseeds from domestic farmers in exchange for importing unprocessed oil.