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The price of sunflower oil for the month of July has decreased from 21 to 24% compared to the month of June.
For the month of July, the price of sunflower oil reached 280 to 290 ALL per liter from 370 ALL per liter last month. The downward trend of the price started in the middle of June, where the selling price of oil from 381 ALL reached 370-375 ALL/liter (decrease 1.6-3%).
Importers claim for Monitor that the price reduction has come from oil imports to Ukraine.
“The decrease in the price of oil has been influenced by the movement of oil deposits from Ukraine to the border countries that started in June. Even for the month of July, oil imports from Ukraine continued via road transport, as sea transport continues to be blocked due to the war. The high road transport costs and import difficulties in this period have increased the price of sunflower oil by 20%, while in the normal period transport costs affected 5 to 6% of the price. If the transport costs were not high, the oil in Albania would come at a cheaper price”, said one of the importers.
After the start of the war, in the retail market, sunflower oil has experienced the highest price increase in the food basket products. In March, the price of sunflower oil was traded at 330 ALL per liter from 249 ALL per liter in February (32.5% increase). After this period, the price increased by about 9% and reached 370 ALL per liter, while in the middle of April the price of oil reached its peak. The oil was sold at 400 ALL per liter from retail stores and supermarkets.
Since April, the sale prices of basket products, such as oil, flour, sugar and long-grain rice, are being controlled by the Transparency Board. The wholesalers claim that the board’s decisions did not affect the price drop, since the meetings have not been held for weeks and only the maintenance of profit margins remained in force.
At the beginning of June, the Transparency Board decided that there will be no unified price of sunflower oil for importers. The new price is determined separately, taking into account the customs clearance invoices and operating costs of wholesalers who import bottled oil and those who import processed oil, but do the packaging in Albania.
Imports of sunflower oil for 2021, according to Customs data, increased 8% more than 2020. Operators claim that in this period, consumption appears to decrease due to the high price and emigration of the population. /Monitor.al
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