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  • Category: Miscellaneous

    Why vegetable cooking oil prices skyrocketing like anything?

    After the pandemic, the cost of many groceries, vegetables and items of daily needs soared up like anything. Out of these, the most important edible oil prices are skyrocketing. Before Covid time we used to get one liter of most of the oils used to get around Rs.85-90. After the pandemic, the prices of vegetable oil showing a steep rise. Now the commonly used Sunflower oil, Mustard oil are touching Rs.200 and that is double the price when compared before the pandemic. Groundnut oil, Sesame oil or til oil have become beyond our reach. Why the prices of edible oil become so high? Why government is not taking any proper action in containing the edible oil prices? Edible oil is the common need of every family. Do you think reducing its utility is the only solution for it?
  • #735779
    India is importing 70% of its requirement of edible oils.Only 30% is domestically manufactured or produced. 15 million tonnes of oils are imported and only 7.5-8.5 million tonnes are produced in the country last year. So the domestic oil prices will follow international prices. Recently, the prices of edible oils in international markets gone up and hence in India also there is a raise. There is nothing the central government can do it.
    Solvent Extractors' Association of India (SEA), a trade body, announced that the average price of crude palm oil this year at Indian ports was $1,173 per tonne. The same oil was costed $599 per tonne a year ago. She the difference in the price. It is almost double the price of the last year. When there is a hike in raw material how can we get the same at a reduced price. Because of the pandemic, the government is also facing problems in getting revenues. The consumer has to regulate his consumption and manage his finances.

    drrao
    always confident

  • #735783
    In India wide variety of oils are used like mustard oil, til oil, groundnut oil, ricebran oil, soybean oil, etc. and that are not used in other countries. Why India is exporting edible oils while the people of country themselves are facing problem? India is importing edible oils like palm oil, sunflower oil and soya oil by paying high taxes. Why India put a ban on exporting edible oils to control oil prices In India.

  • #735786
    There are many points to be considered for banning the export. Till 2018 there was a ban on the export of oils mentioned by the author. But in 2018 the ban was removed. Even we stop the export of these oils, we can't stop importing other oils. As there is a demand for those oils, India is importing those oils. If they stop importing those oils and put a ban on export also, the availability will become difficult and prices will go up. So I feel that is not a solution. If the same product is getting exported the government can ban the export of that product.
    drrao
    always confident

  • #735801
    There is no hard and fast reasons for the sky rocketing price of cooking oil and for the past few months the price of refined oil which was sold at 120 per liter is now sold at 195 and that is whooping raise. India is going through election process in many states and the general elections are also going to be held in near future. So the companies are seems to be let loose to earn while the sun shines as have to brace up for the huge political donations. This was happening during the UPA regime and this price raise is no exception. But the raise should have been marginal and not the whooping.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease


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