Edible oil price rises

(China Daily)
Updated: 2008-03-18 07:25

The government should take more measures to help people withstand the rising price of edible oil, says an article on the website china.com.cn. The following is an excerpt:

Recently, the National Development and Reform Commission and the State Administration of Grain jointly released a circular, demanding the supply of edible oil must be ensured and reserved edible oil should be used in some regions to help them overcome the shortage.

The price of edible oil varies in different regions and several cities have started to control prices.

The NDRC said supply and demand of edible oil are in balance and can satisfy the needs of the market. What the NDRC said reassures us that we have enough. But what about prices? Prices are mostly determined by market forces. The government may step in to control prices, but it cannot fully replace the market.

It reminds us of the soaring price rises of pork last year. The shortage let us know the country had meat in reserve and this time we know we also have edible oil in reserve. We are glad to see that in the face of the rapid price rises, the relevant government departments have responded quickly. They have also made great efforts to ensure the supply is stabilized.

The price of edible oil may further rise against the backdrop of a general price hike in the international market and that caused by the recent snowstorms. The government should do more to limit its influence by granting subsidies to low-income families.

(China Daily 03/18/2008 page9)

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