TNI Bureau: The prices of cooking oil have risen across several parts of India, adding further pressure on household budgets. Traders and market analysts attribute the increase to global developments, supply disruptions, and the recent surge in crude oil prices.
In recent weeks, the prices of commonly used edible oils such as sunflower oil, soybean oil, and palm oil have increased by nearly 5 per cent in wholesale markets. In many cities, retail prices have gone up by around ₹3 to ₹5 per litre. Traders warn that if global conditions remain volatile, further price hikes cannot be ruled out.
The impact is also being felt in Odisha. According to traders, edible oil prices in the state have increased by about ₹20 to ₹25 per litre over the past two months. Refined oil and palm oil have recorded the sharpest rise, while mustard oil prices have remained relatively stable.
One of the key factors behind the price surge is the rise in global crude oil prices. Higher crude rates increase transportation and shipping costs, which in turn raise the landed price of imported edible oils. Since India imports a significant portion of its edible oil requirements from countries such as Indonesia, Malaysia, Russia, and Ukraine, fluctuations in international markets quickly affect domestic prices.
Geopolitical tensions in the Middle East have also contributed to the increase. The ongoing conflict in the region has disrupted supply chains and created uncertainty in global commodity markets. As a result, wholesale edible oil prices have risen in several markets, with the impact gradually reaching retail consumers.
Experts also point out that higher crude oil prices often lead to greater use of vegetable oils for biodiesel production. This reduces the availability of edible oils for food consumption, adding further pressure on prices.
Market observers warn that if global uncertainties persist, cooking oil prices may rise further in the coming weeks, raising concerns about inflation and increasing the financial burden on households across the country.
