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Biz World - May 23, 2022

Edible oil prices fall in India

International Desk: After petrol, the price of edible oil has also come down in India. Edible oil prices in India have been falling since last week’s announcement of the lifting of the Indonesian palm oil export ban. In just one week, the prices of soybean, palm, mustard and almost all cooking oils in the country have come down significantly.
Multiple Indian media outlets reported on Monday that prices of most oilseeds in the country had dropped in the past week. As a result, the price of Kachi Ghani mustard oil has come down to Rs 40 per tin (15 kg).
Besides, the price of soybean has come down by Rs 4 to 5 per liter.
It is learned that the price of mustard in India has come down by Rs 100 per quintal (100 kg) to Rs 7,515 to Rs 7,565 in a week. In view of this, the price of mustard oil has been reduced by Rs 250 to Rs 15,050 per quintal.
The price of mustard Pakki Ghani and Kachchi Ghani oil has been reduced by Rs 40 per tin (15 kg) to Rs 2,365 to 2,445 and 2,405 to 2,515 respectively.
In India, soybean grains and soybean oil prices have also come down. The price of soybean oil in the country has been reduced by Rs 400 to Rs 500 per quintal. Soybean oil prices in the Delhi wholesale market fell by Rs 400 per quintal to Rs 16,650. In other words, the price of soybean oil has come down by Rs 4 per liter.
The price of crude palm oil in the country has come down by Rs 500 per quintal to Rs 14,850. In Delhi, the price of palmolin (See Page-2)

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fell by Rs 600 to Rs 16,350 per quintal and in Kandla by Rs 520 to Rs 15,200.

In addition, the price of almond oil in India has dropped by Rs 25 per tin to Rs 2,625 to Rs 2,815 in a week.

Earlier this week, Union Finance Minister Nirmala Sitharaman announced a reduction in tariffs on petrol and diesel in India. As a result, the price of petrol in the country has come down to Rs 9.5 per liter and diesel to Rs 7. Cooking gas prices are also falling.
In this project, it has been decided to subsidize Ujjwala gas cylinder by Rs 200. Customers will get this discount in case of using 12 cylinders per year.

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