Experts say cooking oil prices are artificially manipulated

More than 70% of the domestic oil enterprises by the four international grain control of the recent domestic consumption of food prices, is considered to be artificial manipulation of the results, the edible oil enterprises said that the increase in the price of imported soybeans is not tenable reasons.　　According to sources, 4 multinational companies control the global food distribution, more than 70% of the domestic oil enterprises are transnational grain holding or equity participation. Four big grain control edible oil main brand CCTV economy half Hour report, the State Administration of Grain Regulatory Department deputy director Zhou introduced, currently grasps the global grain marketing is 4 multinational corporations, respectively, ADM, Bunge, Cargill, Dreyfus.　　ADM Company and Singapore Fung Group jointly set up the Yi Hai Kerry Group, in the domestic holding factories and trading companies have been up to 38, but also participate in the Luhua and other well-known domestic grain and oil processing enterprises, the country's largest grain and oil processing group. At present, more than 70% of the domestic oil enterprises are transnational grain or holding or equity participation, has formed the four grain holding or participation in Jinlong fish, Fu, Luhua, and other major brands of the situation.　　The higher price range is also the earliest start of the price of the golden arowana and other varieties, it is the four grain or the holding of the brand.　　The reason for the international soybean price increase is not set up to support the price rise The main reason is that the import soybean production region South America suffered drought this year, the international soybean trading volume decline, driving the domestic soybean prices. Heilongjiang Longjiang FU Oil Co., Ltd. chairman Song that the rise in oil prices and imports of soybean prices are not necessarily a direct link, human interest factors become the main reason for this round of price increases.　　Many enterprises now processing soybeans are imported a few months ago, then the price is much lower than now, the production cost is not high. Heilongjiang Province Soybean Association under-Secretary-General Zhou said: "Import soybean procurement is generally 6-8 months in advance, that is, the current use of soybean procurement time, at least at the beginning of this year procurement." "The price hike should be a lack of support," said Li Guoxiang, an economic expert at the Academy of Social Sciences.　　According to USDA estimates, the world's soybean supply grew by 16% this year, a significant increase. From this, it can be inferred that the increase in the price of this round of edible oil is not a rise in costs, but a result of manipulation by some companies. They simply take the cost rise as a cover for greater profits.