cooking oil

Cooking oil costs in various Metro Manila marketplaces continue to grow, despite high prices for petroleum products, meat, and flowers.

Coconut oil’s price rose by 15 pesos to 50 pesos at the Marikina Public Market, while palm oil’s price rose by 20 pesos to 40 pesos.

There was a 4 peso increase in the price of palm oil in the Pasig Mega Market and a 5 peso increase in the price of coconut oil in the same market.

As the price of copra continues to rise, a statement from an oil sub-dealer in the Visayas Wet and Dry Market indicates that oil prices are rising.

The Philippine Coconut Authority has previously stated that the high cost of copra used in the manufacturing of lard is to blame for the rise in lard’s price.

Because of the high price of retail oil, the general population is content for the time being to tolerate it.

Source: DWIZ