date:Apr 28, 2013
n 30% in 2012, hitting the lowest level in 2009-2012. The revenue of local oil producers had grown steadily as of 2011, but last year their revenue unexpectedly dropped 32% over 2011.
As such, their profits also decreased. In 2012, profits of domestic producers dramatically slid 35% year-on-year, in contrast to the trend in 2009-2011.
The 15% reduction in prices of imported vegetable oils last year prompted domestic oil firms to cut prices by 9%, although the prices had been rising in the peri