Survey by LocalCircles also found that 17% were cutting discretionary spending to afford the oil and 1 in 2 households are dipping into savings to buy it.
At 3-day meet in Bhopal, Bharatiya Kisan Sangh slammed palm oil for being ‘unhealthy’, not ‘atmanirbhar’ & overusing water. It urged govt to promote local oil seeds, demanded MSP panel.
Prices of palm oil are up 15% this year to a record, while rival soybean oil has jumped 12%, putting a strain on India, the top buyer of palm, soybean and sunflower oils.
Ukraine is India's biggest supplier of sunflower oil. Any escalation in Russia-Ukraine tension is likely to hit edible oil prices in the country as 70% of its requirement is imported.
According to Solvent Extractors’ Association of India, diverting land from rice & wheat production in Punjab, Haryana can increase production of edible oil in India by 25 lakh tonnes.
India is witnessing record-high inflation in edible oil prices. Food Secretary says country can produce up to 18-19 lakh tonnes of rice bran oil, up from current 11 LT.
As per government data, edible oil prices in the domestic markets have risen sharply by up to 46.15% in the last one year due to global factors and local tight supply situation.
The base import tax on crude palm oil, crude soy oil and crude sunflower oil has been reduced to 2.5 per cent, the Finance Ministry said in a notification issued late Friday.
As a practising doctor, I discovered large question marks on claims of a trustful patient-doctor relationship in the past. The routine dehumanisation of underprivileged patients remains a rarely mentioned topic.