Mustard oil prices rise by 29%, palm oil 37% in a month

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Ziraat Times
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New Delhi, Oct 27: Edible oil prices continue to rise in the country, with palm oil prices rising as much as 37% in the past one month, heaping pressure on household budgets and making it expensive for restaurants, hotels and sweet shops which use the oil for preparing popular snacks.

The price of mustard oil, used in several households, has surged by 29% in one month. The spurt in oil prices came at a time when retail inflation jumped to a nine-month high of 5.5% in Sept, led by high vegetable and food prices, dashing hopes of a cut in interest rates by the RBI for now.

The prices of a large chunk of edible oils have soared after govt increased import duty on crude soybean, palm and sunflower oils last month.

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