The price of cooking oil may decrease permanently

By: Trademagazin Date: 2023. 01. 10. 12:49

Finally, some good news: the permanent drop in the world market price of edible oil may soon put a stop to the rise in consumer prices. A good harvest in Ukraine and an end to panic buying could lead to a drop in prices.

Ukraine had a good harvest

For the time being, the moderate decrease in purchase prices will not bring any significant changes in consumer prices in the neighboring countries, but it will slow down the rise in prices. This is also supported by the December data of the UN – reports napi.hu.

In Hungary, sunflower cooking oil is also one of the price-stopped products. A liter of oil costs HUF 720 on average in domestic stores. Cooking oil costs HUF 1,200-1,400 at the market price here. According to the report of the Agricultural Economics Institute, the retail purchase prices of sunflower edible oil have been decreasing by a few forints since November, and are a few forints below the selling price.