Prices of edible oil doubled in just one year
In countries like Malaysia and Indonesia, oil production has declined due to Ramadan and lockdown. Due to this, the prices of things related to this are increasing.
New Delhi. Be it restaurant food or things like chocolate, soap, pastries and lipsticks. Nowadays, one thing is common in all of these. That is, their rising prices. And the reason for this is that the price of edible oil has increased more than double in just one year. Edible oil is extracting the oil of the common man. Therefore, the cost of companies producing products like chocolate made from oil, pastries, soaps, lipsticks and biofuels is increasing. Some have increased their prices and some are in the process of preparing it. Today we know through this report how much oil prices have increased in a year? Also read: Success Story: TPA left business to take care of parents, now has a portfolio of 3000 crores From palm oil to groundnut, sunflower and mustard oil, prices have doubled. In a year, prices have gone up to twice as much as from palm oil to groundnut, sunflower and mustard oil. The price of palm oil was Rs 76 per kg in May 2020, but after 1 year, in May 2021, its price has increased to 137 per kg. At the same time, the price of groundnut oil was Rs 120 per kg in May 2020, but after 1 year, in May 2021, its price has gone up to 196 per kg. Due to dependence up to 70%, there is a big contribution of international prices in it. The supply chain is also disturbed due to Corona. In countries like Malaysia and Indonesia, production has also declined due to Ramadan and lockdown. Also read: If you are buying a dream car, then keep these five things in mind; prices will benefit
Indian customers’ food habits may also change Inflation of edible oils is now turning into general inflation. The cost of everything from restaurant food to chocolate, pastry, soap, lipstick and biofuel is increasing and now their prices will also increase. According to experts, not only will the demand fall due to corona and rising inflation, the food habit of the Indian customer can also change. Also read: This bank made changes in FD rates, you can also avail higher interest rate, know everything