Cooking Oil Companies Halt Production After NDRC Imposes Price Freeze

On December 2, the National Development and Reform Commission ordered the four largest domestic cooking oil producers to not raise the price of their products over the New Year and Spring Festival period. Due to pricing pressures that meant they would be operating at a loss if they sold their products at the price set by the NDRC, on the same day, the Sanhe Hopeful Grain & Oil Group (三河汇福粮油集团) stopped production of cooking oil. The companies decision has triggered fears that there may be a shortage of cooking oil over the Spring Festival period.

Source
Chongqing Evening Post

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