The cost of production and development of a private brand is significantly lower than buying a name. This is especially true for those companies that do very well marketing. Supermarkets use private labels to generate high profits, which negates the minimum profits of leading global brands with high acquisition costs.
Your private label distinguishes you from other similar products. As for vegetable oils, the label can speak of the invisible: vegan, kosher, organic etc. You have the absolute right to the recommended retail price (RRP).
Creating a regular customer base is the key to business success in the long term. Private label branding is one of the ways to win the loyalty of people who like your cooking oil. This is especially true for high-end products like organic vegetable oil.
The food market is a very competitive and very profitable business. Potentially, we have 7 billion customers worldwide. it makes sense to start working with cooking oil under your own brand.