Recently price of onions, gold has increased…but now the Prices of almost all edible oils have increased and due to “costlier imports from Malaysia and Indonesia, edible oil prices are likely to see a further increase,” IANS reported. Rates of soybean oil have been on an upward swing and lost 1% early this week, according to a report by Kotak Securities. “Limited arrivals, and persistently rising demand for edible oil in physical market have also deterred correction in oil seed,” a Kotak Securities report authored by Mohit Vyas said earlier this week.
On the other hand, palm oil prices have gone up by Rs 20 per litre, recording a jump of more than 35% in the last two months. Rally in palm oil prices has led to a sharp rise in the prices of other edible oils as well.