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Possibility of increase in prices of edible oil and ghee.

Due to increase in rates of Malaysian palm oil, there is chance of increasing prices of oil and ghee in the country. On January 1, 2019, trading benchmark of palm oil (March delivery) has increased 23.82 dollar per tones by 2.1 per cent, which is the highest in the last 20 days, earlier it was increased by 2.4 percent on 21 December.

According to industry sources, if the government did not reduce the import of Oil, the prices of oil and ghee would increase in the next few weeks. If the price of the dollar increases as compared to rupees then not only the import bill will increase but also there will be visible change in the price of oil and ghee.

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