[단독] CJ CheilJedang’s cooking oil price increase…

Input 2021.02.05 14:16

CJ CheilJedang, No. 1 in the industry, raises the price of Beksul soybean oil
Lotte Food considers an increase in the price of large-capacity cooking oil for business

No. 1 in the domestic cooking oil industry CJ CheilJedang (097950)Increase the price of this cooking oil. The company said that it was a measure in response to an increase in the price of raw materials, but the rise of instant rice, cola, and soju caused an emergency in life prices. The company is also reviewing the price of large-capacity cooking oil for businesses, which is expected to increase the burden on self-employed people.

According to the distribution industry on the 5th, CJ CheilJedang recently delivered an official letter to a hypermarket to raise the selling price of oil and fat products such as cooking oil. The timing of the hike is mid-month, and the extent and specific timing of the price hike are being coordinated between CJ CheilJedang and a hypermarket.

CJ CheilJedang’s position is that “this price adjustment is not a price increase, but a discount rate adjustment.” Regarding this, a hypermarket official said, “From a consumer point of view, the discount rate adjustment is the same as the price increase and the expression.”

Ottogi (007310)It is reported that other companies that produce soybean edible oil are also considering price hikes. An official from Ottogi said, “In the international market, the price of soybeans has risen significantly, and we are monitoring the stage,” he said. “At present, there are no plans for a price increase.”

This is due to the sharp rise in raw material prices such as soybeans. On the 4th, at the Chicago Futures Exchange, a bushel of soybeans (about 27 kg) was traded for 13 dollars and 73 cents. This is a 56% increase from the same period last year.

Among the self-employed, there are concerns that the price of large-capacity cooking oil for business is also rising. Most restaurants, including chicken and Chinese restaurants, use cooking oil.

Lotte Food (002270)Is considering raising the price of large-capacity edible oil for businesses. A Lotte Food official said, “We plan to adjust the price according to the current trend of increasing crude oil prices.” Earlier in January of last year, Ottogi, CJ CheilJedang, and Sajo Haepyo raised the factory price of edible oil by 5-10%.

A self-employed business owner who runs a restaurant said, “If the supply price of cooking oil rises in a difficult situation with fewer customers due to the aftermath of a coronavirus infection (Corona 19), the burden of small business owners will be considerable.” “He said.