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 percent) 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.
