Cooking oil price hikes underscore government’s confidence
Posted: August 8th, 2011 | Tags: Communist Party, cooking oil, NDRC, price controls | No Comments »
The jug of cooking oil may not occupy pride of place in your kitchen, but in China it has become an unlikely gauge of the country’s economy. The Financial Times and Wall Street Journal (subscriptions required) both reported Wednesday that a major producer of cooking oil in China, Wilmar International, had raised the retail price of its products by 5%.