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Mumbai28 minutes ago
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In the terrible phase of the Corona epidemic, the problems of the common man are not being named. Along with petrol and diesel prices, the prices of edible oil are also skyrocketing. These days there is also a trend on social media that people kept fighting over expensive petrol and diesel and the stale mustard oil was killed.
According to government figures, on May 26 last year, the price of one liter mustard oil was Rs 90. It has crossed 200 rupees today. The retail price of one liter mustard oil bottle in the market is Rs 214.
Why mustard oil is getting expensive?
Kedia Advisory According to Ajay Kedia said that mustard crop was also good last year. But the lockdown reduced the arrival of mustard in the market. This has led to a steady rise in prices. Since mustard oil is an antibody, its consumption increased more in rural areas.
Used as an alternative to palm oil, but it was introduced in biofuel. Similarly, sunflower oil also gained momentum due to inclement weather in the producing countries.
Ban on selling loose oil, ban on adulteration of palm and mustard oil also increased prices. In this lockdown, people stored large quantities of mustard oil. In such a situation, the customers are unlikely to get relief from inflation even further, because the global demand is increasing at the moment.
IIFL Securities Commodity Expert of Anuj Gupta says that refined oil prices have increased worldwide. This increased the consumption of mustard oil. At the same time, the prices of all types of oil have increased, which is also putting pressure on mustard oil prices. Not only this, demand has also increased in India. Because people here started to store because of the lockdown.
How much mustard is produced in India?
Mustard is the major oilseed crop of the Rabi season. This season mustard production in the country is estimated at 104.27 lakh tonnes. At the same time, according to the edible oil industry organization Central Organization for Oil Industry and Trade (COOIT) and Mustard Oil Producers Association of India (MOPA), this figure is estimated to be 89.50 lakh tonnes. However, no data is currently available on the production of oil. According to Anuj Gupta, India neither imports nor exports oil. Whatever production of mustard is produced, it is consumed here.
What are the prices of one liter bottle and small bottles?
For example, a customer buys one liter mustard oil from a shop for Rs 100, but a half liter bottle is available for Rs 65-70. In such a situation, it is expensive for the customers to buy a small bottle / packet. Anuj Gupta explains that cost is the biggest reason for the difference in prices. Because companies have to spend the same cost on both types of bottle / packing. For which they recover their cost by paying less to the customers.
Did farmers benefit from mustard inflation?
Mustard production took place at record level. Nevertheless, the farmers got a good benefit. The minimum support price (MSP) is Rs 4,650 per quintal. But farmers sold mustard a month ago for around Rs 5,000. In such a situation, farmers also benefited from increasing demand. However, the atmosphere was created that farmers got more money from MSP for the first time.
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