Singapore's Wilmar says no further plans to hike cooking oil prices in China

Wilmar International , the world's largest palm oil plantation firm, said on Friday it has no plan to further hike cooking oil prices in China after raising the price by 5 percent recently.

Chief Executive Officer Kuok Khoon Hong told a media and analysts briefing that although producers in China are not required to seek government approval to raise prices, Wilmar would consult the Chinese government before they revise prices upward.

Beijing, which has been closely watching inflation in the world's most populous nation, recently removed the price restriction on edible oils.

Wilmar generates more than half of its revenue from China.