Mustard Oil became more expensive than Petrol and Diesel; Oil Price rises from Rs 90 to Rs 214 in a Year

In the terrible era of the Corona epidemic, the problems of the common man are not being named. Along with the prices of petrol and diesel, the prices of edible oil are also rising
Mustard Oil became more expensive than Petrol and Diesel; Oil Price rises from Rs 90 to Rs 214 in a Year
Source: Google/ Image Credit: India TV

In the terrible era of the Corona epidemic, the problems of the common man are not being named. Along with the prices of petrol and diesel, the prices of edible oil are also rising. These days there is also a trend on social media that people kept fighting over expensive petrol and diesel and the stale mustard oil was killed.

According to government data, on May 26 last year, the price of one liter mustard oil was Rs 90. It has crossed 200 rupees today. The retail price of one liter mustard oil bottle in the market is Rs 214.

Why mustard oil is getting expensive?

Ajay Kedia of Kedia Advisory said that mustard crop was also good last year, but the lockdown reduced the arrival of mustard in the market. This has led to a steady rise in prices. Since mustard oil is an antibody, its consumption increased more in rural areas.

Used as an alternative to palm oil, but it was introduced in biofuel. Similarly, sunflower oil also gained momentum due to inclement weather in the producing countries.

A ban on selling loose oil, a ban on adulteration of palm and mustard oil also drove up prices. In this lockdown, people stored large quantities of mustard oil. In such a situation, the customers are unlikely to get relief from inflation even further, because the global demand is increasing at the moment.

Commodity expert Anuj Gupta of IIFL Securities explains that refined oil prices have increased worldwide. This increased the consumption of mustard oil. Also, the prices of all types of oil have increased, which is also putting pressure on mustard oil prices. Not only this, demand has also increased in India, because people here started storing oil due to the lockdown.

How much mustard is produced in India?

Mustard is the major oilseed crop of the Rabi season. This season mustard production in the country is estimated at 104.27 lakh tonnes. At the same time, according to the edible oil industry organization Central Organization for Oil Industry and Trade (COOIT) and Mustard Oil Producers Association of India (MOPA), this figure is estimated to be 89.50 lakh tonnes. However, no data is currently available on the production of oil. According to Anuj Gupta, India neither imports nor exports oil. Whatever production of mustard is produced, it is consumed here.

Source: Google/ Image Credit: Abp news
Source: Google/ Image Credit: Abp news

What are the prices of one liter bottle and small bottles?

For example, a customer buys one liter mustard oil from a shop for Rs 100, but a half liter bottle he gets for Rs 65-70. In such a situation, it is expensive for the customers to buy small bottles / packets. Anuj Gupta explains that cost is the biggest reason for the difference in prices. Because companies have to spend the same cost on both types of bottle / packing. For which they recover their cost by paying less to the customers.

Did farmers benefit from mustard inflation?

Mustard production took place at record level. Nevertheless, the farmers got a good benefit. The minimum support price (MSP) is Rs 4,650 per quintal, but farmers sold mustard a month ago for around Rs 5,000. In such a situation, farmers also benefited from increasing demand. However, the atmosphere was created that farmers got more money from MSP for the first time.

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