超级市场是以顾客自选方式经营的大型综合性零售商场。春节期间顾客的需求量变大，超市的销售量也增大，很多顾客担心超市会在这个时候提高商品的价格。

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In many supermarkets in China, edible oil has become a popular product with all kinds of discounted offers before the Spring Festival. Many major brands are labeled with 10 percent off offers, and many big packages are wrapped with an extra bottle of oil as gifts for customers.

But in fact, 60 percent of the edible oil sold in China relies on imported soybeans each year. Starting from October last year, edible oil prices have increased by 25 percent globally, and the production costs from many Chinese edible oil processing companies have jumped 20 percent. Researcher Li Nan explains why oil in China hasn't seen rising prices but continues to offer discounts.

"Spring Festival period is prime time for edible oil sales. Oil processing companies usually can sell 30 to 40 percent of their whole year production in the market during the short holiday."

In order to occupy a share of the huge market, oil processing companies must lower profit margins. Of course, they are still making money. The oil being sold during the period from January to Chinese Lunar New year period was mainly produced from the soybeans they bought last October, and the stock prepared can run through Spring Festival until March this year. Li Nan says oil companies are making a great profit now.

"Their gross profit can reach 1,500 yuan per ton, a historically high level. That's why they ran full capacity to produce in October last year."

Edible oil has a tight connection with CPI. Future trading analyst, Xie Wei from First Futures Company, says edible oil companies don't take rash actions to increase prices due to close supervision from the Chinese government.

"During the recent four years, soybean oil price directly effect CPI in China. A price surge on edible oil triggers an upward trend on CPI. For example, if the soybean oil price increases by 800 to 900 yuan per ton, then CPI will go up by one percent."

At the end of 2010, the Chinese government asked four major edible oil companies in China to guarantee a sufficient supply of product during the festival period with no price increases. Researcher Li Nan says many companies now suspended their production process.

"Currently soybeans imported have increased in prices up to 4,600 yuan per ton. But the current bean oil is priced at 10,000 yuan per ton. If the companies produce now at a processing cost of 150 yuan per ton, they will lose 194 yuan per ton eventually. That's why they've limited their production scale."

Experts say there is no need to worry about any price surge before March thanks to sufficient supply in the market. But during this period of time, the international soybean price will climb by 10 percent, so the oil price in China after March will likely go up. However, the increase rate won't exceed eight percent.

For CRI, I'm Liu Min.

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