Safflower oil price decline benefits consumers

Other cooking oils also witness a drop by Rs 3 to Rs 5

Chhatrapati Sambhajinagar: As the month of Dhonda draws to a close, households have been participating in numerous Dhonda programmes, engaging in a variety of culinary experiences. Safflower (Kardi) oil, a popular choice for cooking, has seen a noteworthy price reduction compared to groundnut oil, marking a change after three years. Over the past week, not only safflower oil but also sunflower, cottonseed, palm, and vegetable oils have experienced a slight decrease in prices.

Groundnut oil, which has reached Rs 185 per litre due to reduced groundnut production and substantial exports, has seen a price surge. Presently, single-filter groundnut oil is priced at Rs 180, while double-filtered variant commands Rs 185 per liter.

Safflower cheaper than groundnut

The surge in safflower oil sales can be attributed to a shift in prices. Five months ago, the price difference between safflower and groundnut oil was Rs 45, with safflower oil priced at Rs 225 per liter and groundnut oil at Rs 180 per liter. Increased safflower arrivals and a subsequent decrease in kardi oil prices have led to a notable shift. Currently, Kardi oil is Rs 10 cheaper than groundnut oil.

Notable price drop

Furthermore, there has been a price drop in sunflower oil by Rs 5 per litre, cottonseed oil by Rs 3, and palm oil by Rs 3 per litre in the past week. The cost of vegetable oil has also decreased by Rs 5, now retailing at Rs 120 per kg. Industry expert Jagannath Basaiye, predict that oil prices will likely witness a further decline after the Dussehra festival, coinciding with the onset of new groundnut arrivals.

Cooking oil prices comparison (August 1 to 12):

· Safflower: Rs 180 to Rs 175

· Groundnut: Rs 185 to Rs 185

· Sunflower: Rs 115 to Rs 110

· Soybean: Rs 120 to Rs 108

· Cottonseed: Rs 110 to Rs 107

· Palm: Rs 98 to Rs 95