Ahmedabad, Edible oil markets have seen a rise in the past three months in recent months due to several global factors, which have led to fluctuations in the global edible oil markets. 10 kg in most of the edible oils Rs. 50 to Rs. 70 has increased in price. Currently, the price of cottonseed oil per 10 kg is Rs. 975 which three months ago 10 kg was Rs. There were 930. Edible oil prices climb amid global supply disruption.
The price of soybean oil was earlier Rs.10 kg. 910 to now 10 kg Rs. 970 and the price of rice bran oil has also increased in the same period to Rs.10 kg. 890 to now Rs. 10 kg. 950 have been done. Similarly, three months ago the price of sunflower oil was Rs. 900 which increased to Rs. 10 kg. 980 have happened. Three months ago, mustard oil of 10 kg was Rs. 1,060 which is now Rs. 10 per kg. 1,190 has to be paid.
Despite this increase, market players have predicted that the price hike is temporary. Priyam Patel, Managing Director of NK Proteins Private Limited, said that as the market situation adjusts and geopolitical tension eases, prices are likely to stabilize. Dispute resolution can increase supply chain stability and lower prices.
He added that production is also likely to increase in the upcoming harvest season which will increase supply which will help stabilize prices. Measures taken by the government to curb inflation and provide support to the agricultural sector can also help stabilize the market.
According to market experts, supply of sunflower oil from Russia and Ukraine is limited due to off season. Due to the high temperature, it has affected both the end of the season and the next crops. Due to this disruption, the demand and prices of other alternative oils have also increased.
Workers' protests in Argentina and flooding in Brazil have caused significant disruptions to soybean oil supplies. Low crushing of soybeans this season and lower shipments from Argentina via Brazil have tightened supply and pushed up prices.
In addition, the Israeli-Palestinian conflict has further disrupted the supply chain which has hit the availability and prices of various edible oils. The situation has worsened due to transportation-related challenges such as increased freight rates besides port blockages and shipment delays, leading to an overall increase in prices.
