Edible Oil: Cooking oil prices have been skyrocketing for some time now. At the same time, there are many reports in the media that their prices will go up further. The center said there was good news at this point.
Edible Oil: There will be a shortage of cooking oils in the country. There are many reports that their prices will go up further due to international reasons. The central government has a good news on this. In other words, the central government on Sunday revealed that there is not enough cooking oil available in the country at present. The Center is monitoring the prices of cooking oils and the import conditions of oil (Oil Imports). People need not worry about that. According to the oil industry, 21 lakh tonnes of cooking oil is currently available in the country, while another 12 lakh tonnes is in transit. The Ministry of Consumer Affairs has said that the cooking oil in transit will be available for domestic use in May. He said the ban on Indonesian palm oil exports would not have any impact on India.
Soybean production is at its peak in 2021-22 when it comes to oilseed production. According to the report, these are 126.10 lakh tonnes more than last year. On the other hand, mustard oil production is expected to be around 114 lakh tonnes. For this, 37 per cent more crop was harvested in the country. At the moment the Department of Civil Supplies is constantly monitoring the prices of cooking oils. Efforts are afoot to reduce the price burden on consumers. At the same time, palm oil imports from Indonesia and Malaysia accounted for 62 per cent, soybean oil imports from Argentina and Brazil for 22 per cent, and sunflower oil imports from Ukraine and Russia for 15 per cent. Experts say lower production internationally, higher taxes by producing countries on exports as well as other factors are having a severe impact on cooking oil prices. India is the world’s largest producer of oilseeds and harvested 37.14 million tonnes of nuts in 2021-22.
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