By Admin 
Food Inflation: Even before the increase in the prices of petrol and diesel, the public was quite worried, but now the prices of other kitchen items are also touching the seventh sky. First milk, then vegetables and now even edible oil has become expensive. It also includes mustard oil, groundnut oil, sesame oil, crude palm oil and cottonseed oil. Due to this, once again the kitchen budget of the housewives will get messed up.
Huge jump seen in oil prices
Edible oil is widely used in every home, hotel and restaurants. Its demand increases especially during the festival season. In such a situation, there has been a huge rise in its prices since last month. In the last week itself, a decline in the rupee has been recorded against the dollar, due to which the price of edible oil which is imported from outside has seen a rise.
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How much was India’s edible oil import bill?
SEA (Solvent Extractors Association of India) President Sanjeev Asthana, in a letter to his members, has expressed concern over the rising import bill. He said that there is a need to work rapidly towards increasing oilseed production in the country and now the oilseed revolution cannot be postponed any longer.
He also said that India is standing at an important juncture in the matter of edible oil. Last year, the country’s edible oil import bill was Rs 1.61 lakh crore, but this year it is expected to increase to more than Rs 1.75 lakh crore.
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How much did oil prices increase?
- The price of mustard oil has increased by Rs 650 to Rs 16,550 per quintal.
- The prices of Mustard Pakki Ghani and Kachchi Ghani oil have increased by Rs 90.
- After rising by Rs 375, the price of soybean oil has reached Rs 7400 to Rs 7475 per quintal.
- Groundnut oil has increased by Rs 1000 to Rs 17000 per quintal in Gujarat.
- The price of groundnut solvent refined oil has become costlier by Rs 105 and closed at Rs 2665 to Rs 2965 per tin (15 kg).
Arrival of soybean decreased, demand for mustard increased
At the same time, some reports have also claimed that the arrival of soybean is decreasing rapidly in the markets. Last week the arrival rate was 60 thousand bags, which has now come down to just 10 bags. So, in some reports it has also been claimed that the arrival of mustard has reduced but its demand in the market has increased to a great extent. Due to which the price of mustard oil has also increased by 10 to 15 rupees per kg compared to soybean and palm oil.