SEOUL, KOREA - CJ CheilJedang said on January 13 that the sales of canola oil in Korea have surpassed those of soybean oil for three years in a row. In 2011 canola oil overtook soybean oil and grapeseed oil for the first time as the most favored cooking oil. In the following year, the sales revenue of canola oil exceeded the 100-billion-won level.

 

In contrast, grapeseed oil sales have shrunk to the 50-billion-won level last year from about 90 billion won in 2010, on the strength of health claims. The main reasons canola oil sales have grown so much have to do with the fact that the oil is versatile in application while the price is lower than other cooking oils by more than 40 percent. The fact that canola oil contains more than 90 percent of unsaturated fat including oleic acid has helped its sales.

 

Its price (based on a 900-ml CJ CheilJedang Canola bottle) of 6,300 won is slightly higher than that of soybean oil (4,100 won) but only half the price for grapeseed (10,900 won) and olive oil (12,900 won).