Why edible oil prices are increasing in India?


In the last year, Indian people have seen a surge in edible oil prices.

Price rise in last one year 

Mustard oil 40%, Sunflower oil 52%, Refined soyabean oil 34%, and Refined rice bran oil 33%.

So this is the situation now, but what exactly the reason is behind this spike?

Reasons for a price hike:

Why edible oil prices are increasing in India?

•As you know, Chinese Economic conditions are improving and with this recovery, China is buying a lot of soybean seeds, palms, and sunflower.

Why edible oil prices are increasing in India?

•Production of Palm oils is down in Malaysia and Indonesia due to labor shortage.

Note: Both countries supply to India.

Why edible oil prices are increasing in India?

 •Argentina faced a drought-like situation and they supply soya bean oil.

Why edible oil prices are increasing in India?

•Russia and Ukraine have had low sunflower crops around 2-3 million tonnes loss.

So this why you can see a price hike of edible oil in India.

Visit The Prodates for more.