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After onions, cooking oil gets costlier
TIWN
After onions, cooking oil gets costlier
PHOTO : TIWN

New Delhi, Dec 21 (TIWN) After onion and garlic, prices of edible oil have registered a sharp rise due to costlier imports.

Consumers will have to dig deeper into their pockets as the cooking oil prices may rise further, say oil industry experts.  Palm oil prices have shot up by Rs 20 a litre (more than 35 per cent) in the last two months. Palm oil's meteoric rally has led to a sharp rise in the prices of other edible oils.  "The prices of all edible oils have increased following the rise in palm oil over the last two months. Due to costlier imports from Malaysia and Indonesia, edible oil prices are likely to see a further increase," Oil-oilseed market expert Salil Jain told IANS.  Another oil industry expert suggested that farmers should be provided better prices for their crops if the country wants to become self-sufficient in edible oils.  "The prices of edible oils are increasing in India due to expensive imports from the international market. However, farmers are now getting a higher price of oilseeds, which will encourage them to cultivate oilseeds," said B.V. Mehta, Executive Director of Solvent Extractors Association of India.

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