As the year draws to a close, the shopping demand has increased sharply as people want a prosperous Tet holiday. As a result, the prices of many products, including cooking oil, have surged. Both consumers and businesses have expressed their concern over the increasing prices of necessities and materials amid the difficulties caused by the Covid-19 pandemic.
In a dilemma
In the Asian market, the cooking oil prices have hit a new record given the concern over the limited global supplies. In China, the prices of soybean and palm oil have reached their highest level, at 11,119 CNY (US$1,750) per ton, which was attributed to the soybean price hike and a decline in the soybean output.
Analyst Kong Lingqi from Haitong Futures said the United States Department of Agriculture had forecast the cooking oil reserves would fall compared with last year.
Vietnam is no exception. Cooking oil has been among the products whose prices have seen the strongest volatility in the local market after the Tet holiday last year.
Recently, an enterprise in HCMC informed that all products had seen their prices rise. Of which, the prices of cooking oil products had seen the steepest increase, at some 30% over the same period last year.
A survey conducted by Zing in November 2021 showed that the price of Neptune cooking oil rose from VND52,000 to VND66,000 a liter; that of Simply, from VND56,000 to VND67,000; and Tuong An, from VND47,000 to VND53,000. The prices tend to increase further in the rest of the year.
The higher prices of products will put pressure on consumers, especially amid the recovery of production and business activities after a long social distancing period.
It’s hard to adjust the prices or reduce promotions as the prices have been normally regulated in contracts, so it is necessary to choose other suppliers. Asia Fish Oil Corporation (AFO), a subsidiary of Sao Mai Group, is an ideal option for enterprises that are seeking suppliers of a large volume of cooking oil, shortening and margarine at stable prices.
Ranee commits to price stabilization
The premium cooking fish oil Ranee has been sold at Mega Market supermarkets at VND48,000 per 950-ml bottle, which has attracted the interest of housewives. Ranee cooking fish oil products have helped protect the health of consumers. With diversified designs and a capacity of 950 millimeters to five liters, Ranee-branded products can meet the online shopping demand of all customers on ecommerce platforms, such as Shopee, Lazada, Sendo and Tiki. Customers can also get gifts, such as wooden ladles, infrared stoves, Ranee aprons, nonstick pans and helmets.
With the European refinery technology which is the most modern in Vietnam, Ranee’s premium products have made breakthroughs with its high-quality cooking oil which is good for health, especially the cardiovascular system. The new technology will not only deodorize the fishy smell but also retain nutrients, such as omega 3, 6 and 9 fatty acids, EPA, DHA, vitamins A and E and minerals. Fish-based cooking oil comes with outstanding features, including the natural yellow color which will not be changed after being used for many times, and a high ignition temperature, which will not produce hazardous substances.
With the production line meeting standards of the European Union, besides olein, stearin is used for the production of shortening and margarine. The premium Golden margarine, containing omega 3, 6 and 9 fatty acids and vitamins A and E, helps improve the immunity and prevent chronic diseases. Especially, it has no trans fat.
An AFO representative said the company committed to increasing the supply while stabilizing the prices to meet the local and export demands.
As Tet is coming, cooking lovers should chose appropriate and safe nutritious products. Let’s choose the Ranee cooking oil brand to save money and cook tasty dishes