Amid Russia-Ukraine tensions, not only has crude oil reached a record high, but now edible oil is also taking a toll on the pockets of customers. The inflation may increase further in the coming days. In Delhi, the price of palm oil has increased by Rs 20 to 25 in 15 days. Soya, sunflower and groundnut oil prices have also hiked. The price of mustard oil is already close to Rs 200 per litre. Overall, cooking oil is already expensive due to limited global supply and now the Russia-Ukraine war has added fuel to the fire. 65% of the edible oil consumed in the country has to be imported and about 60% of the imported oil is palm oil. All palm oil is imported from Malaysia and Indonesia and this year there is also a limited supply. The crude palm oil production in Malaysia declined ...
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