The government said the crisis in West Asia has impacted edible oil prices both globally and domestically, but local availability remains “adequate” as imports from major supplying countries continue through established trade routes. Minister of State for Food and Consumer Affairs Nimuben Jayantibhai Bambhaniya said India relies on imports to meet a significant portion of its domestic edible oil requirement. Consequently, domestic edible oil prices are influenced by international market trends.
She said the recent geopolitical conflict in West Asia led to an increase in global crude oil prices, freight and marine insurance costs, resulting in higher international edible oil prices. She added “Higher crude oil prices have also diverted larger quantities of palm and soybean oil towards biofuel production, reducing export availability and pushing up both global and domestic edible oil prices.” She said the availability of edible oils in the country remains adequate, with imports from major supplying countries continuing through established trade routes.
According to government data, the average retail price of packed groundnut oil increased to Rs 206 per kg on July 22, from Rs 190 per kg six months earlier. Mustard oil rose to Rs 196 per kg from Rs 186 per kg, while soybean oil increased to Rs 164 per kg from Rs 151 per kg. Sunflower oil rose to Rs 189 per kg from Rs 169 per kg, and palm oil increased to Rs 148 per kg from Rs 133 per kg over the same period.
The minister said the government is closely monitoring the prices and availability of edible oils in the domestic market. She noted that the government remains prepared to undertake appropriate market intervention measures, including a review of import duties and other trade-related measures, as and when required, to ensure adequate availability and stabilise prices in the interest of consumers.
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