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Carrefour says oil, noodle prices will remain unchanged

Carrefour, the largest hypermarket chain in the country, said yesterday that it could only ensure that the prices of instant noodles and edible oil products sold in its stores nationwide would not be raised before the end of the month.

The retail group made the declaration after news reports claimed that prices of the two food products were surging in local hypermarkets, with edible oil prices to increase by 20 percent to 30 percent overall by the end of the month.

Carrefour executives said that so far, only the price of one cooking oil brand in their stores had been hiked. As for instant noodles, they noted that only the prices of two popular flavors made by the Uni-President Enterprises Corp, one of the leading foodstuff manufacturers in the country, had been raised this year.

Meanwhile, RT-Mart International, the second-largest hypermarket operator nationwide, said that none of its cooking oil prices had been increased since last year despite the fact that the company had been facing great pressures due to price hikes by its suppliers.
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