Edible oils on fire with up to 52 percent rise in July compared to year-ago, says data


New Delhi: Edible oil prices in the retail market have seen a steady rise in comparison to the year-ago period according to recent government data. The highest to rise was sunflower oil that grew by 51.62 percent compared to last year followed closely by soya oil at 48.07 percent.

The average prices of edible oils in retail markets have increased by up to 52 per cent in July compared to the year-ago period.

Similarly, prices of mustard oil have increased by 39.03 per cent, vanaspati by 46.01 per cent and palm oil by 44.42 per cent during the period under review. The latest data is up to July 27, 2021.

This was stated through a written reply to Rajya Sabha on Friday by Ashwini Kumar Choubey, Minister of State for Food and Consumer Affairs.

The minister defended that the government has taken several measures like duty cuts and revised import policy to curb prices of essential commodities and edible oil. India imports about 60-70 per cent of its total edible oils requirement.

With inputs from PTI