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Will have to wait till March 2022 for relief from expensive edible oil, know why

Cooking Oil Costly: Common people are not going to get relief from expensive edible oil soon. The new year is about to begin and in the new year also consumers will have to pay a higher price to buy edible oil. It is believed that only after the arrival of the new mustard crop after March 2022, there can be a reduction of 7 to 8 percent in edible oil from the current level.

No relief from expensive edible oil yet

The price of edible oil in the country has crossed Rs 200 per kg. There is a tremendous jump in the prices of soybean, sunflower, palm oil in the international markets, due to which the prices of edible oil are being seen in the country. India imports 70 percent of the consumption of edible oil.

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Minor relief from policy change

The government has made significant changes in the import policy, due to which the prices of refined soybean oil have come down from Rs 150 per kg to Rs 125 per kg. The price of palm oil has come down from Rs 140 per kg to Rs 120 and the price of sunflower oil has come down from Rs 150 per kg to Rs 128 per kg.

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The price of edible oil will be lower after March 2022

At the same time, after March 2022, the price of mustard oil on the new crop of mustard can come up to Rs 150 per kg, which at one time had crossed Rs 200 per kg. However, despite this fall in the prices of edible oil, it will be available at a price of 25 to 30 percent higher than in 2019.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who is professional full time tech, travel and coding enthusiast with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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