Cooking oil prices fall : approx 30% compared to last year’s Diwali
Cooking oil prices fall : approx 30% compared to last year's Diwali - Pune Pulse
By: Pune Pulse
November 6, 2023
Pune: While the prices of most food grains have increased, housewives can have a sigh of relief as the price of edible oil has come down. Compared to last Diwali, the prices of sunflower, palm, soybean, and sarki oil have decreased by 30 to 35 percent. Groundnut oil prices are holding up. Last year, prices of edible oils were on the rise during Diwali. The arrival of sunflower, palm, and soybean oil from abroad continues regularly.
As per further information, the import of edible oil has increased. The war-like situation in Israel, as well as reduced demand for edible oil in the international market, led to a gradual decline in edible oil prices over the past few months. Considering the price of edible oil in Diwali last year, this year the price of edible oil has decreased by 30 to 35 percent.
The price of commercial cooking gas has recently increased by Rs 100. Except for edible oil, prices of most food grains are on the rise. People have got relief in Diwali due to the fall in the price of edible oil.
A cooking oil merchant stated that a few years ago, homemade snacks were prepared during Diwali. For the last few years, housewives have been buying ready-made snacks from the market. It is not possible for housewives to prepare snacks while taking care of busy work. Due to this, there is an increase in the tendency to buy ready-made snacks, and during Diwali, the demand for edible oils increases from sweets sellers and snack makers. The demand for edible oils from domestic consumers is declining.
Following are the cheaper rates of cooking oil per 15 kg (Rates of 2022 in brackets):
· Palm – Rs 1,350 to Rs 1,500 (Rs 2,100 to Rs 2,150)
· Sunflower – Rs 1,400 to Rs 1,500 (Rs 2,300 to Rs 2,400)
· Soybean – Rs 1,400 to Rs 1,500 (Rs 2,300 to Rs 2,400)
· Sarki – Rs 1,400 to Rs 1,550 (Rs 2,200)
· Vanaspati Toop – Rs 1,400 to Rs 1,600 (Rs 1,900 to Rs 2,000)
· Groundnut – Rs 2,700 to Rs 2,800 (Rs 2,800 to Rs 2,900)
Shreyas Vange
