Why did edible oil prices in India go up so quickly?

iPwnz

Brutally Honest
Skilled
Frying pan to fire: Why did edible oil prices in India go up so quickly?
[Scroll India]


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This is bad. Like really bad. :(
 

chetansha

Skilled
1. Edible oils used to be on the 'essential commodities' list which meant that there were price controls on it.
2. Modi govt. removed it from the list.
3. The biggest selling brand of oil is fortune owned by adani
4. Quelle surprise.
5. Ruchi soya went bankrupt, it owed truck loads of money to banks. Enter one eyed babaji, banks take haircut( a head shave actually), sold for fraction of its cost to baba.
Oil that used to cost 100 is 200 now .master stroke.
 

iPwnz

Brutally Honest
Skilled
3. The biggest selling brand of oil is fortune owned by adani
Woah I had no idea. Isn't Fortune a good household oil company though? Also the MRP seems to be lower than Engine. I checked the price of Engine 1L oil today and MRP was 200rs. Fortune mustard oil on Amazon has 182rs. At what price do you guys buy cooking oil? We are currently using Engine and Fortune Rice bran just fyi.
If price of onion and potato also increase then most of us will be screwed.
 

rdst_1

Skilled
5. Ruchi soya went bankrupt, it owed truck loads of money to banks. Enter one eyed babaji, banks take haircut( a head shave actually), sold for fraction of its cost to baba.
Oil that used to cost 100 is 200 now .master stroke.
Baba probably earned more money from Ruchi Soya by stock market manipulation than rather selling any Soya or oil.
 
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Mr.J

Skilled
Woah I had no idea. Isn't Fortune a good household oil company though? Also the MRP seems to be lower than Engine. I checked the price of Engine 1L oil today and MRP was 200rs. Fortune mustard oil on Amazon has 182rs. At what price do you guys buy cooking oil? We are currently using Engine and Fortune Rice bran just fyi.
If price of onion and potato also increase then most of us will be screwed.
We avoid Fortune entirely so that leaves us with Saffola, Sunrich, Godrej etc. Also, I buy 5L can whenever possible.
 

Ramadhir Singh

Wasseypur
Adept
We avoid Fortune entirely
doesn't seem to a possible situation for most of the people.
over decades we were using Dhara Mustard Oil, its the oil used in our preparations 90%, rest 10% suflower+ghee+butter.
Surprisingly Dhara went missing from the selves for last 4-5 months, with only alternative available is fortune. It compares shit to dhara, but we don't have any choice. as rest of the brand small like burning tires.

Any information of Dhara company are they closed their business ?
 

iPwnz

Brutally Honest
Skilled
We avoid Fortune entirely so that leaves us with Saffola, Sunrich, Godrej etc. Also, I buy 5L can whenever possible.
My family buys premium Modicare oil (please don't ask me why!) though I prefer anything Mustard tbh. But its not for health reasons, just something which I grew up having so it stuck to me. Nowadays my mom buys other oil brands.
We do buy them in 5L and larger whenever possible.
 

jiith77

Disciple
It’s sad the way standards have dropped over the years at scroll. It used to be the best news portal. Looks like they can no longer afford quality journalism. To blame , let alone mention, inefficient farming in an article about price increase is lazy. At least they should learn how to google

major reasons for the issue are global price rise, brain dead economic policy coupled with COVID. India went with self reliance support policy for vegetable oil without having an implementation plan. Which meant our oil stocks were very low when COVID hit. During covid farming was effected due to lockdown further escalating the issue.
 
It’s sad the way standards have dropped over the years at scroll. It used to be the best news portal. Looks like they can no longer afford quality journalism. To blame , let alone mention, inefficient farming in an article about price increase is lazy. At least they should learn how to google

major reasons for the issue are global price rise, brain dead economic policy coupled with COVID. India went with self reliance support policy for vegetable oil without having an implementation plan. Which meant our oil stocks were very low when COVID hit. During covid farming was effected due to lockdown further escalating the issue.
Very valid points. Also, Oil prices have gone up and down umpteen times. Fortune/Ruchi control a very miniscule portion of the market.
 

Emperor

Skilled
few days before bought (from local offline oil shop) KK Pure Groundnut Oil (15 KG) Rs.2700/- (Rs.180/- per liter)

Some new brand was also available for Rs.2400/-
 

PradUp

Patron
For anyone interested, here is comparision of different oils and brands done by Department of consumer affairs:

There are surveys on various other household items that you can check here:
 
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