Business Standard

Edible oil gets costlier due to kharif crop damage, global price rise

Floods in key producing regions resulted in major damage to standing kharif soybean crop

Edible Oil
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Dilip Kumar Jha Mumbai
After onion, cereals, and vegetables, prices of oilseeds and edible oil have started moving up over the apprehension of a supply shortage in the domestic market following kharif crop damage and a sharp jump in their quote in the international market.

Crude palm oil (CPO) for delivery at Kandla became costlier by 16 per cent in the past month to trade at Rs 712/10 kg currently; it was Rs 613/10 kg a month ago. The price of refined soy oil in Indore jumped 8 per cent to Rs 843/10 kg, from Rs 780/10 kg a month ago.

The sudden increase in prices

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