Soyabean oil hiked by Rs 4, further increase expected

Nagpur, Feb 24

About 70 percent of the edible oils are imported into the country. In view of the Russia-Ukraine war, the import of oil seeds and crude edible oil from abroad is stopped. Due to this the shortage of edible oil is being felt in the country.

It can be gauged from the fact that the rates of edible oil has increased in last three days. As soon as the war started on Thursday, the rate of soybean oil is increased by Rs 4 and the rates of other oil by Rs 2 per kg. The traders have expressed the possibility of further increase in the rates.

Due to hike in the rate of soybean oil, the rate of soybean has increased from Rs 700 per quintal to Rs 7, 700 in Kalmana. Market. Farmers are getting the benefit of this. About 2500 quintals of soybean reached the market on Thursday. With the increase in rate, the supply is likely to increase. Similarly, due to the increase in the demand for soyabean drape in the country, its prices have increased.

Soybean oil hiked by Rs 24 in February

Due to the impact of imports, the rates of soybean oil have increased in the country. Soybean oil has increased by Rs 24 per kg in February itself. Due to this the poor and common people are suffering. Last year soybean oil had reached a record level of Rs 165 per kg. On February 1, its price was Rs 136. But now it has reached to February 20.

Anil Agarwal, director of Itwari's Rani Sati Enterprises, said that the price of soybean oil will again increase to Rs 165. 50% of oilseeds and crude edible oil are imported in the country. This time due to the good production of soybean and other crops in the country, the effect of international level activities is beginning to be seen in the local markets of the country. Due to the increase in the rates of edible oil or oil seeds in the international market, their rates are showing a rise in the country.