Salem: Traders said sunflower oil prices have increased by Rs 200 per box due to decline in supply. India’s demand for vegetable oils is largely met by foreign countries. India imports palm oil from Indonesia, Malaysia and Singapore and sunflower oil from Russia and Ukraine. A liter of palm oil went up to Rs 140 in the last five months due to a fall in the inflows to India from palm oil importing countries.
Similarly, sunflower oil, which was sold at Rs 130 to Rs 150 due to the war in Russia and Ukraine, rose to Rs 190 to Rs 220. In this situation, the price of palm oil fell to Rs 95 per liter in the last 3 months due to increase in oil supply. Similarly, sunflower oil fell from Rs 170 to Rs 180. In this situation, during Diwali festival, the demand of edible oils increased. The oil to be imported from Vauinadus fell by 10 to 15 percent. Due to this, the price of cooking oil increased before Diwali festival.
Palm oil which sold at Rs 95 is now Rs 100, sunflower oil which was selling at Rs 160 to Rs 180 is now Rs 180 to Rs 200 and a box of 10 liters has increased by Rs 200. Traders reported that groundnut oil is being sold at Rs 180 to Rs 220, ghee at Rs 280 to Rs 300 and coconut oil at Rs 200 to Rs 220.