Mustard oil price reached sky high
Mustard oil prices have increased drastically. Till fifteen to twenty days ago, the refined price of Rs 140 per liter is now being sold for Rs 170-175. Even after sufficient stock of oil in the market, the retail traders are not getting the goods. Or even if you are getting it, then an arbitrary price is being charged in return for it.
Ukraine crisis excused, edible oil paid for profiteering
According to market experts, Russia and Ukraine are major exporters of sunflower, soya and palm oil, just eleven days after the war started. According to traders, oil companies have stock for up to three months. In such a situation, the reason for the skyrocketing of oil prices is black marketing and profiteering. Black marketing has become active in view of the impact on the business in the coming days due to the Russo-Ukraine war. By showing off imports, profiteers have increased the prices of sunflower and palm oil.
Oil prices are increasing continuously, but if the war continues, the crisis will increase. At present, the price of oil has increased by 30 to 35 rupees per liter in fifteen days. Its chief is also hoarding somewhere. Deepak Singh, Basharatpur.
The impact of war on the global economy is causing inflation and inflationary effects on the prices of edible oils. Apart from this, due to hoarding at the local level, the prices of oil are also touching the sky. The administration needs to take strict steps in this regard. Praveen Gautam, Mohdipur.
At present, there is no shortage of edible oils like palm oil, refined and soybean refined etc. in the market. In a meeting after the Ukraine-Russia war, the Prime Minister has also said that edible oil is available in sufficient quantity in the country. Not only is the supply less than the factory level itself, but the price rise is also taking place from there. The important thing is that when new goods have not been imported from abroad, then hoarding and profiteering can be the only reason for sudden price rise – Sanjay Singhania, President, Chamber of Commerce.
Big industrialists do hoarding and profiteering and its heat comes on small wholesale and retail traders. Wholesale and retail businesses are troubled due to non-availability of goods. This is the reason why prices are constantly touching the sky. Government and administration should take interest in this and take action against those responsible in the interest of the common man. – Anand Gupta, Wholesaler.
Such increased prices
- Edible oil 20 days ago current price.
- Soyabean Rs 140 per liter Rs 170 per litre.
- Palm oil Rs 120 per liter Rs 152 per litre.
- Sunflower Rs 138 per liter Rs 180 per litre.
- Mustard Rs 168 per liter Rs 175 per litre.
