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Chinanews, Beijing, Apr. 6 – In Beijing, the price of cooking oil started to rise in November, 2006. In less than four months, the price of peanut oil has risen at an average rate of 14% month by month. The public feel that the price of cooking oil is rising too fast and beyond what they can afford, the Economic Information Daily reported.
Information from the Beijing Municipal Statistics Bureau shows that in February, this year, the general price of the daily-use goods rose by 0.8% from last year, with the price of foods rising by 2.9% from the same period last year. In particular, the price of grains rose by 5.8%，oil by 12.4%，meat and meat products by 9.4%，eggs by 20.1%，aquatic products by 3.1%，and vegetables dropped by 6.1%. From the above official figures, it can be seen that the price of cooking oil rose the fastest. In addition, the prices of the daily necessities that are closely linked with people's life have all climbed. Through interviews, this reporter has learned that many people complain about the price hike in peanut oil. Zhang Rui, a resident who seldom cared about the price change of the daily-use goods, now think otherwise. “My family all use peanut oil for cooking, since we know that salad oil made by genetically1 modified soy beans is not good for one's health. However, the price of peanut oil has risen by over 20 yuan within four months. This is unreasonable,” she said. A bottle of peanut oil now costs a dozen yuan more than a same bottle in the past. Even many cooking oil dealers2 did not expect the price hike. In Beijing, peanut oil takes up more than 20% of the cooking oil market. The government is paying close attention to see whether the price rise of peanut oil will drive up the price of salad oil, said Ma Changwang, deputy director of the Beijing Municipal Bureau of Grain, who was in charge of grain market affairs.
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