Price of edible oil: Despite the end of festivals, the price of edible oil is continuously increasing. Prices have increased by 6 percent in the last one month, while prices have increased by 31 percent in the last one year. Due to increase in oil prices in the international market, oil prices will continue to increase in future also.
Edible oil has become so expensive in one year – Coconut oil has increased from Rs 175 to Rs 178 in one year. Mustard oil has increased from Rs 125 to Rs 152 per liter. Soybean oil increased from ₹112 to ₹130 in a year. In one year, sunflower oil has increased from Rs 112 to Rs 136 per liter and palm oil has increased from Rs 90 to Rs 118 per liter.
Edible oil has become so expensive in 1 month – If we talk about just 1 month, then in 1 month the price of coconut oil has increased from Rs 175 to Rs 178. Mustard oil has come down from Rs 148 to Rs 152 per liter. In a month, soybean oil has come down from Rs 125 to Rs 130 per liter. In a month, sunflower oil has increased from Rs 128 per liter to Rs 136 per liter and palm oil has increased from Rs 112 to Rs 118 per liter.
Actually, the price of edible oil has increased due to increase in duty by the government. The government had increased the duty in September, due to which the prices of edible oil are still increasing. The duty was directly increased from 20 percent to 35 percent.
India imports 57 percent of its oil needs. A huge increase in the prices of edible oil is being seen in the global market. The price of palm oil has increased by 12 percent in a month.
