Edible oil prices soar after Russia-Ukraine war

The prices of edible oil are soaring as the import of sunflower oil from Ukraine and Russia has stopped amid the ongoing war between the two countries. Kanhaiya Lal Gujrathi,

Director, Poona Merchant’s Chamber, said, The oil prices have increased by around Rs 300 to Rs 400 per 15 kg container. There is a shortage of oil in the market as the import has stopped totally.

Another trader said, There is a shortage of oil in the market and the rate, especially of the sunflower oil, has increased by around Rs 600 per 15 kg container which is going to impact the common man. The sunflower oil is imported in India majorly from Ukraine and Russia. Gujrathi said, Before the war between the two nations started, the soyabean oil was sold around Rs 1950 which has now increased to Rs 2500, while the sunflower oil was earlier at Rs 2,150 which has now crossed Rs 2,750.

A retailer said, The rates of oil will not come down until the war is going on. People have started to stock up on edible oil as they fear that they will not get enough in future.

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