Refined prices should also go up
On Tuesday, the price of refined oil rose by Rs 5 to Rs 1,340 per 10 kg in futures trade. Refined soya oil for April delivery rose by Rs 5, or 0.37 per cent, to Rs 1,340 per 10 kg in 21370 lots at the National Commodity and Derivatives Exchange. Analysts said that prices of edible oils may increase in the coming days.
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Since last year, the prices of cooking oil have become expensive by about 25%. According to the government records as of April 12, the prices of all edible oils, except palm oil, have seen an increase. Even peanut oil, which was stable for the first three months, rose in April.
Increase prices of edible oils in three months
According to the information given on the Ministry of Food and Consumer, the prices of mustard oil have increased in the last three months. Mustard oil has been priced at Rs 186 in retail on 31 January, Rs 188 on 28 February and Rs 200 per liter on 31 March. The same, soya is sold at Rs 142 in January, 177 in February and Rs 160 in March. There is not much increase in the price of groundnut.
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Learn what the grocery stores say?
Sadhana Chaudhary, the mistress of a grocery store in Noida Sector 71, says that the demand for mustard oil has increased significantly. Oil prices are not taking the name of being low. Mustard oil has been sold for the last two days at a price of Rs 180-190. Not only this, some customers are also coming who are taking ration for the next two to three months. People are also afraid of rising prices due to lockdown and night curfew. At the same time, the owner of another grocery store Radheshyam said that mustard oil is still getting 200 rupees / liter due to the huge demand. However, Radheshyam says, Appu Cooking Mustard Oil is getting 140 rupees / liter. Fast raw marinated mustard oil is getting 130 rupees / liter.
Pulses prices rose by 13.25%
Pulses prices have increased by 13.25% year-on-year. The prices of moong and lentils rose in March compared to the previous months. Urad daal was done under control, but Tuar’s prices were above. The government had told the Lok Sabha last month that pulses yield from June to June during the current crop year was estimated at 116.20, which was 118 percent of the previous year.
Price of canned milk Rs 340
Not only this, the price of pulses has increased by an average of ten rupees per kg. The price of canned milk of children has increased by twenty rupees. A box of Rs 320 is now available for Rs 340. Meanwhile, due to the implementation of night curfew and partial closure in different parts of the country, so far, business worth about 46 thousand crore rupees has been lost. This claim has been made by the Confederation of All India Traders (CAT).
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Prices will come down after May
There is an annual demand of about 230 lakh tonnes (Lt) for edible oils in India. Out of this, the local production is around 70-80 lakh tonnes, while imports meet the remaining requirement. Executive Director of Solvent Extractors Association of India, B.V. Mehta says that this year mustard, groundnut and soybean crops are better than expected, in which prices are likely to fall from May. At the same time, prices are also falling in the international market, which will affect the domestic prices here.