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updated: Jun 01 2021, 16:57 ist The price of several edible oils sold in India has increased by up to 70 per cent in the last year. According to data released by the Consumer Affairs Ministry, the price of groundnut oil has gone up by up to 61 per cent, while mustard oil is nearly 70 per cent costlier in 2021. As a consequence of this, the common man's budget is taking a hit. But why are edible oils getting costlier? The increasing demand for edible oil coupled with relatively lower domestic production are some of the key reasons for the rise. As per a report by the

Says it hurts refiners, farmers and revenue loss to the Centre and urges regulating the inflow.

Past few months has witnessed unprecedented price rise in all commodities including edible oil

May 24, 2021 ‘Developments augur well for the oilseed sector’ The Solvent Extractors’ Association (SEA) of India feels that acreage under oilseeds may witness a massive rebound during Kharif. In a letter to the members of SEA of India on Monday, Atul Chaturvedi, President of SEA of India, said that IMD has forecast a normal monsoon (96 to 104 per cent of LPA) and expected to touch Kerala by May 31. Stating that this would be the third consecutive year of normal monsoon, he said: “With monsoon likely to be normal and farmers having received very good prices for oilseed, we feel acre...

Rise in palm oil prices poised to inflate costs Products using the oil such as chocolates, soaps set to get more costly The meteoric rise in palm oil prices is poised to inflate costs for everyone from restaurants to confectionery and cosmetic manufacturers, and could potentially change consumption patterns. The world’s most consumed edible oil has surged more than 120% in the past year and burst through 4,500 ringgit ($1,091) a tonne to a record on Wednesday. The tropical oil, which is found in products as diverse as chocolate, pastries, soaps, lipstick and biofuel, and is widely used in...