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Sunday, September 25, 2022
HomeIndiaPrices expected to edible oil rate decrease

Prices expected to edible oil rate decrease

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Edible Oil Rate Decrease: This is a comforting news for the people who are worried about the rising Edible Oil. Edible oil prices may fall further in the coming days. Indigenous oilseeds have entered the market in large numbers. Therefore, the price of edible oil, which was at a high level till last month, is expected to decrease in the coming time. (prices expected to edible oil rate decrease) India is the largest edible oil importing country in the world. Palm oil accounts for 65 percent of the country’s total imports. This palm oil is imported in finished or raw form. Palm oil is followed by sunflower oil in India. 60% of this oil is imported from Ukraine and 40% from Russia. After the war, imports from Russia are gradually improving. Meanwhile, the domestic edible oil situation is also improving.

Meanwhile, according to the data of the All India Edible Oil Association, the demand for soybean oil is huge in India. By mid-September, 1.90 lakh bags (1.90 crore kg) of soybeans have entered the market in the country. Soybeans contain only 20 percent oil. Accordingly, 38 lakh kg of oil will be produced from the current 1.90 crore kg of soybeans.

Mustard oil is also in great demand in India. An average of 40 percent oil is extracted from mustard oil seeds. According to the association, about 86 lakh kg of oil will come in the market in the coming period and this is a good sign

There is a demand of about 2.50 crore kg of Edible Oil (Edible Oil Rate Decrease) in the country every year. About 1.24 crore edible oil will be produced according to the indigenous oilseeds currently in the market. This year, the import of finished palm oil also increased to 43 thousand 555 tons in July. This figure was only 13 thousand 895 tonnes last July, while import of raw palm was 4.80 lakh tonnes. This figure was 4.51 lakh tonnes in July last year. Due to this, the price of edible oil is expected to decrease in the coming time.

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