The effect of Iran-Israel war and increasing tension in West Asia is beginning to be seen on Indian markets. The prices of edible oil, especially sunflower oil, are skyrocketing in the country. Within just a week, the price of sunflower oil has increased by Rs 5 per liter.
New Delhi: The war between Iran and Israel and the crisis situation in West Asia are now affecting our kitchen as well. The prices of edible oil have started increasing in the country. The price of sunflower oil, which is the most preferred after Kerala, has increased by Rs 4 to 5 per liter in just a week. At the same time, blended oils sold by mixing oils like sunflower and rice bran have become costlier by Rs 10 per liter.
The largest producer of sunflower oil in India is Karnataka, although it is also cultivated in Maharashtra and Andhra Pradesh. But its production is very less as per its consumption in the country. Therefore, we have to import a large part of our needs from other countries. We mainly import sunflower oil from Ukraine, Russia, Argentina and Bulgaria. Looking at the latest market situation, it is clear that due to war, this import has started getting affected.
A week ago, i.e. before the war started, one liter of sunflower oil was available in Bengaluru for Rs 161. Today its price has increased to Rs 165. Market rates show that this increase has not happened in any one brand but in all types of sunflower oils. Apart from this, blended oils like Saffola Gold are also available in the market, in which other oils are mixed with sunflower oil. The price of such oils has increased by Rs 11 per liter. Experts believe that the prices of sunflower and blended oil may increase by Rs 10 to 20 in the coming days. In states like Kerala, where sunflower oil is already sold Rs 5-6 more expensive than Karnataka, it would not be surprising if the price reaches close to Rs 200 per liter in the coming days.