Vegetable Oil Price In Romania Might Hike About 30% In March-April

"The price of oil might rise by some 30% in March or April, to 7 lei (EUR1=RON4.2675) per liter, from RON5-5.5 per liter," said Frumosu.

He said vegetable oil producers, who have exhausted sunflower and soy stocks, will have to import oleaginous products at high prices. Frumosu stressed that Romanian farmers sold their raw material stocks last year.

The price of sunflower seeds and soybeans increased by about 50%-60% in 2009 and doubled this year compared to 2008. The price of vegetable oil rose by about 25% in October last year.

Romanian Agriculture Minister said in mid-January 2011 that Romania received vegetable oil and oleaginous products import requests from several countries. He said an economic mission will go to Jordan, which wants to import from Romania a significant quantity of vegetable oil.

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