From Palm Oil To Soybean Oil: Why Your Kitchen Budget May Come Under Pressure

Summary

Global edible oil prices are expected to remain elevated in India over the coming months due to a sharp rise in global prices and concerns over a weaker than normal monsoon. The average retail prices of mustard, soybean, and palm oil have increased by 10.74 percent, 11.53 percent, and 12.87 percent, respectively, compared to a year ago. India's dependence on imports, which account for nearly 57 to 58 percent of its edible oil demand, makes domestic prices highly sensitive to global market movements.