15% Hike in Edible Oil Prices in one Month, is India being hit by Food Inflation?
In the last month, the import of refined palm oil from Malaysia has been restricted by India, which has resulted in a 15% increase in the price of crude palm oil (CPO).
The price of CPO in the January expiration futures contract increased to Rs 839.80 per 10 kg, while all CPO futures on the Multi Commodity Exchange (MCX) saw positive trading on Friday. The price of CPO on the MCX was Rs 731.40 per 10 kg one month ago on December 10. This indicates that prices have increased by 15% in the past month. All edible oil prices have increased as a result of the continuous growth in palm oil imports.
