An Explainer: What Drives the Cost of Cooking Oil

Have you ever wondered what’s driving the cooking oil prices in South Africa? Understanding these dynamics can provide valuable insights into not only the global economy, but also the cost of a pantry staple we can’t do without! Let’s take a closer look at some of the factors that affect cooking oil prices, with Morne Botes, the Commercial Director of Southern Oil, as our guide.These oils form a complex network of supply and demand, where any shift in one component can affect others.

Decreased meat supply affecting the demand for vegetable protein, potentially resulting in lower production or increased oil prices to offset costs. Stock levels in large import countries like India and China, which have been inactive buyers but may enter the market soon, influencing demand.

Source: Holiday News (holidaynews.net)

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