Edible oil chain controlled by int'l investment
Updated: 2012-06-06 17:55
(chinadaily.com.cn)
|
|||||||||||
In early April, two edible oil brands, Golden Dragon Fish Oil and Fulin Door, announced that some of its edible oil prices would increase at an average of about 8 percent, which has led to consumer concerns about a new round of price hikes for edible oil.
Industry insiders pointed out that some international edible oil giants have taken control of the domestic soybean industry chain, Economic Information Daily reported on Wednesday.
As an important raw material for edible oil production, the price of soybeans has dominated as the main cost for producing edible oil.
Singapore Yihai Kerry Group, a Golden Dragon Fish brand shareholder, said the supply reduction of the main producing areas has caused the prices hikes for legumes in the international futures markets, the report said.
Zhao Limei, researcher at the Jilin Academy of Agricultural Sciences, claimed that domestic soybean production, and more seriously, the supply of raw materials and food production in general, is primarily under the control of foreign investors.
Currently, four multinational grain merchants - ADM, Bunge, Cargill and Louis Dreyfus - control more than 75 percent of China's edible oil raw materials market and edible oil supply processing market.
Related Stories
Oil leaks again during clean-up 2012-06-05 17:39
Olive oil importers eye Eastern market 2012-06-04 09:47
Quanjude apologizes over oil scandal 2012-05-29 13:17
CNOOC discovers new oil well in Bohai Sea 2012-05-25 10:58
Suspect oil found in Yunnan 2012-05-24 11:13
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |