Inflation hit during the Corona period, edible oil prices almost doubled

Prices of food and drink are increasing rapidly in the Corona period. Inflation of edible oil along with vegetables, fruits, pulses is troubling the common people. The situation is that in the last one year, the prices of edible oils have increased almost double. In the country, palm oil is used in packaged food such as biscuits, bakery products and other things. Therefore, their prices may also increase soon. Palm oil is used in hotels, restaurants in India. Due to expensive imported palm oil, edible oil is expected to become more expensive.

Prices rise from palm oil to mustard oil

In the last one year, the prices of palm, groundnut, sunflower and mustard oil have increased up to double. Palm oil was priced at Rs 76 per kg in May 2020, but its price doubled after one year. In May 2020, the price of groundnut oil was Rs 120 per kg, but in May 2021, its price has gone up to 196 per kg.

Edible oil prices are on the rise in the international market as well

People associated with the business of edible oil say that the price of edible oil is touching the sky in the international market, due to which the price has increased in India too. The experts give another reason for the price rise. He says that this year China is also buying edible oil from the international market on a large scale, due to which the prices have increased. The inflation of edible oil is also becoming a disaster for the people. If the price of prices rises, then the prices of food and drink are going to skyrocket.

Due to the continuous increase in the price of edible oil, the prices of packaged food are also going to increase. Since palm oil is used extensively in packaged food, it cannot be denied that prices will increase.

Relief on economy front amid Corona crisis, boom in industrial production; Decrease in inflation

Retail Inflation: Retail inflation falls, 4.29 percent in April


Leave a Reply

Your email address will not be published. Required fields are marked *