Friday, 12 March 2021

Edible oil is going to spoil the domestic budget

After petrol-diesel, LPG and pulses, edible oil is going to spoil the domestic budget. Crude palm oil (CPO) price reached a record Rs 1105 per 10 kg on Monday,

its highest level in 10 years. Experts say that due to this, the prices of all other edible oils will also increase, that means customers will have to loose more pockets. However, this will benefit the farmers. Oilseeds prices have already gone above the MSP.

The CPO in Malaysia has gone up to 3914 ringgit (about Rs 70,000) per ton. Till coming to India, its cost is sitting at Rs 1100 per 10 kg. This is the highest price since February 2011. The exchange rate of the rupee has come down to 73 per US dollar as the supply in the international market decreased, due to which the import of all things became expensive.

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1 comment:

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