Edible oil price rise gets nod

The edible oil price could stay high after the government cleared a major oil producer to raise its prices.

The National Development and Reform Commission (NDRC) said on its website it approved Kerry Oils and Grains on Tuesday to lift its edible oil price. Its Arawana line is the largest edible oil brand in China.

The company said it hasn't yet decided whether to lift prices as soybean costs unexpectedly fell in the past week after increasing for 18 months.