Edible oil sales double in 2007

Sunflower oil is still number one in terms of preferences, although the market share dropped slightly in terms of value. Four large companies cover over 60 percent of the market volume.

The price of edible oil rose by 50 percent last year due to a smaller crop. Financial results of some companies registering profits can be explained by higher prices.

Trade unions have requested that authorities reduce VAT by 5 percent on basic foods, including bread, meat, milk, vegetable oil, and sugar. The Senate adopted the legislative initiative, and the Chamber of Deputies will make the final decision.

According to a Nielsen’s study, deliveries of oil increased last year in terms of volume. There was an 82.1 percent increase in sales to 135.4 million liters.

Unirea Iasi, Agricover Buzau, Cargill and Argus covered 73.1 percent of total market volume and 69.1 percent of market value.