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"There will be an immediate impact on prices in the domestic market from Monday itself as the news of the ban has distorted the sentiment," said SEA director general B V Mehta.
Oil and fats contributed to around 60 per cent of food and beverages inflation in the country, despite having a weight of only 7.8 per cent in the basket.
The already high prices for edible oil since the Ukraine-Russia war broke out will get an added fuel as Indonesia -- world's largest producer and supplier of palm oil -- has announced a ban on its export from April 28.India imports roughly 80 ...
The already high prices for edible oil since the Ukraine-Russia war broke out will get an added fuel as Indonesia -- world's largest producer and supplier of palm oil -- has announced a ban on its export from April 28.
The already high prices for edible oil since the Ukraine-Russia war broke out will get an added fuel as Indonesia -- world's largest producer and supplier of palm oil -- has announced a ban on its export from April 28.