Cooking oil, an essential ingredient in world cooking, seems to near scarcity with the La Nina weather effect, where the temperatures drop or gets cooled. Many oil refineries around the world have shown drop in production, due to drought and heavy rains. Crops which are raw materials for oil like soya beans, sunflower etc have also suffered with weather changing drastically effecting production.
As demand for oil rises, China, one of the important importers may have to pay huge amount to acquire the seeds. According to Dorab Mistry, director of Godrej International Ltd, "The market is focused on Chinese monthly imports of beans. If the Chinese government releases State Reserves and they skip one month’s imports, it will have a bearish impact on prices in the short term.”
Low demand for sunflower oil and rapeseed oil also may raise demand and price for soya bean oil. I reckon cooking oil prices will eventually rise, cause: environmental changes.
As demand for oil rises, China, one of the important importers may have to pay huge amount to acquire the seeds. According to Dorab Mistry, director of Godrej International Ltd, "The market is focused on Chinese monthly imports of beans. If the Chinese government releases State Reserves and they skip one month’s imports, it will have a bearish impact on prices in the short term.”
Low demand for sunflower oil and rapeseed oil also may raise demand and price for soya bean oil. I reckon cooking oil prices will eventually rise, cause: environmental changes.
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