Salem: Palm oil price fell by Rs 160 per tin.
Palm oil is imported from Malaysia, Indonesia, sunflower oil from Russia, Argentina. Based on international market conditions, palm oil prices will vary.
In this regard, Salem City Vegetable Oil Merchants Association President Chandradasan said:
Price hikes in Malaysia, Indonesia and export restrictions pushed palm oil prices higher in the international market. As a result, India’s imports fell by 40 percent. Last May, palm oil was sold at over Rs 170 a litre. Due to the war in Ukraine, the price of sunflower oil also increased. Sunflower oil, which was selling at 135, rose to 200 rupees. Instead, oil started coming in from Russia and Argentina.
Now the situation is correct, palm oil imports have started arriving as usual. Accordingly, the price of palm oil is decreasing in the international market. Palm oil, which was sold at 110 per liter last month, is currently selling at 98 to 100 rupees. A 15 kg tin is selling at Rs 1,700, down Rs 160. A liter of sunflower oil, which sold up to Rs 200, has now come down to Rs 160 and a liter of coconut oil has gone down by Rs 30 to Rs 180.
This is what he said.
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