Edible Oil Price to Remain Unchanged Until August
There will be no edible oil price increase from July to August, with supermarkets and farm produce markets having yet to receive any notice on price increases. This only shows that edible oil prices are currently stable and there is enough supply.
However, certain edible oil brands have been increasing their prices since a price limit for edible oil was announced. Most of the brands that are being sold right now are well known brands, with smaller brands having slowly disappeared from the market shelves.
The government introduced a price control in efforts to control and fight inflation of edible oil in November of last year, and did it again in April and June of this year. Experts are saying that the policy might be imposed in August in anticipation of rising inflation.
Officials are already conducting an inspection of edible oil stock nationwide and their reports will be an important factor that will determine whether the price control of edible oil will be lifted.