Vegetable Price Hike Raising Concerns: Understand Its Causes And Impact
Domestic edible oil prices are likely to increase 10-15% within the short term after Indonesia, the world’s largest producer and exporter of oil, has announced a ban on its export from April 28, industry officials said. Sunflower oil supplies in India have already been affected because of the Ukraine-Russia war, adding pressure to household budgets. Indonesian President Joko Widodo on Friday announced the suspension of all oil and material exports from April 28 until further orders. The choice comes in the wake of a severe shortage and skyrocketing prices for edible oil within the southeast state. Indonesia is experiencing domestic shortages and the govt has been forced to place curbs on shipments and introduce price controls. For the year 2021-22 (October to September), Indonesi...
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