As a result of the Russia-Ukraine war, the Edible oil price increased.
keypoints:
- 20 to 30% oil price increase in 15 days
- Palm oil rose 260 prices in one week
- An increase of 30 in cottonseed, 10 in mustard, and 40 in peanut oil
The edible oil market is on fire due to the ongoing war between Ukraine and Russia. The last 15 days have seen a 20-30% increase in edible oil prices. The last week has seen a steady rise in edible oil prices. The palm oil used in the farsan industry rose sharply by Rs 70 yesterday after Rs 150 on Tuesday, while home-grown sunflower oil rose by Rs 150. An increase of 50. Rs 30 in cottonseed oil, Rs 10 in mustard oil, and Rs. 40 was increased. With the price of oil, including peanut oil, rising daily, the condition of the middle-class family is what to eat, where to eat, where to go? Like a rash.
Peanut oil prices have gone up to Rs 2,530 and cottonseed oil to Rs 2,490.
Petrol prices have come under control due to the five state elections, though they have not decreased. The last 15 days have seen oil prices rise by 20 to 30% due to the ongoing war between Ukraine and Russia. Today, groundnut oil, cottonseed oil, and palm oil have reached the same level. Speaking of today’s prices, groundnut oil has gone up to Rs 2530, cottonseed oil to Rs 2490, and palm oil to Rs 2495.
Peanut oil reached 2530, and cottonseed oil reached 2490.
About 60 percent of oil is imported from abroad
, says Bhavesh Popat, an oil trader in Rajkot. The last 15 days have seen a 20-30% increase in edible oil prices. 60% of oil is imported from abroad as per the requirement of our country. Palm oil is mostly imported from Malaysia. This is the first time that the price of groundnut oil has been lower than that of palm oil due to the war.
Edible oil trader Bhaveshbhai Popat.
People use more refined oils.
Most people use refined oils in edible oils, but prices continue to rise. Ukraine – Russia’s war situation has led to a sharp rise in imported oil. Palm oil futures have strengthened. From last Tuesday to this Tuesday, palm oil prices have gone up by Rs 260 per can. The weekly increase in fern oil was Rs 180, the weekly increase in sunflower oil was Rs 280, and the weekly increase in corn oil was Rs 170.
In 3 days, the price went up by leaps and bounds
The name of the edible oil Mon. Mars Wednesday
Peanut oil 2440 2490 2530
Cottonseed 2380 2460 2490
Palmolin 2275 2425 2495
Mustard 2440 2430 2430
Sunflower 2280 2370 2400
Vegetable ghee 2380 2420 2460
Coparel 2580 2580 2580
