Home » Why edible oil price surging in India? Know the Reason

Why edible oil price surging in India? Know the Reason

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Prices of groundnut, mustard, vegetable, soybean, sunflower and palm oil continue to rise. Edible oil prices have risen this month to a high level in the past decade.

Ground Report | New Delhi: With the rising prices of petrol diesel, the skyrocketing prices of food have broken the common man’s back. Edible oil price have risen this month to a high level in the past decade. Price of groundnut, mustard, vegetable, soybean, sunflower and palm oil continue to rise. 

According to official figures, the monthly average retail prices of packaged edible oils such as peanuts, mustard, vegetable, soy, sunflower and palm oil have reached a decade high this month. 

Government is taking steps to curb prices

On Monday, the Food and Public Distribution Department held a meeting with all stakeholders, asking states and traders to take all necessary steps to reduce edible oil prices. The All India Edible Oil Traders Federation is also serious about the uncontrollable price of mustard and refined oil.

A statement from the department said that the need to hold the meeting was also felt because the center has increased the prices of edible oil in India much more than the rise in the international prices of edible oil during the last few months. Which is more worrying. Explain that generally the prices of edible oils in the Gharul market are the same as the international market.

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Know which oil has become so expensive

  1. The prices of edible oil in retail markets have gone up  by 7-8% in the last one week. 
  2. Crude condensed mustard oil was 150-155 rupees liter till few days back. Now, it is 160–170 rupees a liter. 
  3. At the same time, soybean refined oil has been reduced to 160 rupees a liter. 
  4. Palmoline oil has been increased to Rs 138 a liter. 
  5. Refined oil prices have also increased significantly. 

Palm oil became most expensive in 11 years

According to government data, retail prices of palm oil rose to Rs 138 per kg on Monday. This is the highest level ever in the last 11 years. The average monthly retail price of palm oil was the lowest in April 2010, 11 years ago. At that time, the retail price of palm oil was Rs 49.13 per kg.

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Why edible oil price surging in India?

The rise in Price of groundnut, mustard, vegetable, soybean, sunflower and palm oil is that the domestic production and availability of oilseeds in India is much less than the demand. The Food Secretary has also confirmed this.

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