Why did edible oil prices in India go up so quickly?
- Thread starter iPwnz
- Start date
Kaleen Bhaiya
Herald
Me??
I am myself clueless about what palm oil does. Need to read about it.
Kaleen Bhaiya
Herald
.
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Primary concern against Palm oil is that it is root cause of environmental disaster in South Asian /South East Asian evergreen forests which are extremely bio-diverse. A consequence of chronically industrialized exploitative farming practices which does not care an eff about sustainability.
- Regions with fast growing palm oil production have experienced significant violations of indigenous land rights
- influxes of illegal immigrant labor and labor practices
- other alleged related human rights violations against indigenous people leading to social conflicts including exposure to hazardous pesticides, child labor, and rape and sexual abuse, and unsafe carrying loads.
- significant impacts on the local ecosystems leading to huge scale deforestation and biodiversity loss influencing climate change
- these evergreen forests host most bio-diverse flora and fauna, many of them being endangered and some in critical status
en.wikipedia.org
For Indians, we have a better option in Coconut oil. Interestingly, palm oil have similarity to coconut oil and hence was imported decades back in Indian regions where it was majorly consumed (then ended up in a scam scandal too as usual).
However, manpower required to harvest and maintain coconut orchards are costly in the geographies where coconut can be farmed (now taken up by migrants from WB and Bangladesh, etc.). So much that Kerala govt. conducted contest for innovating robots for the purpose:
spectrum.ieee.org
timesofindia.indiatimes.com
www.dnaindia.com
Land costs which is soaring in coconut farming regions, increasing logistical /transport cost burden which is adding up everyday due to shooting petrol /fuel costs, etc. adds up to the trouble.
- Regions with fast growing palm oil production have experienced significant violations of indigenous land rights
- influxes of illegal immigrant labor and labor practices
- other alleged related human rights violations against indigenous people leading to social conflicts including exposure to hazardous pesticides, child labor, and rape and sexual abuse, and unsafe carrying loads.
- significant impacts on the local ecosystems leading to huge scale deforestation and biodiversity loss influencing climate change
- these evergreen forests host most bio-diverse flora and fauna, many of them being endangered and some in critical status
Palm oil - Wikipedia
For Indians, we have a better option in Coconut oil. Interestingly, palm oil have similarity to coconut oil and hence was imported decades back in Indian regions where it was majorly consumed (then ended up in a scam scandal too as usual).
However, manpower required to harvest and maintain coconut orchards are costly in the geographies where coconut can be farmed (now taken up by migrants from WB and Bangladesh, etc.). So much that Kerala govt. conducted contest for innovating robots for the purpose:
Amaran the Tree-Climbing Robot Can Safely Harvest Coconuts
The robot could one day reduce the need for humans to take on the risky job of climbing coconut trees
spectrum.ieee.org
No winners for coconut-plucking machine contest | Kochi News - Times of India
Finding a safe and effective machine to pluck coconuts is a tall order, the industries department has found after inspecting 140 prototypes.
timesofindia.indiatimes.com
Kerala finds robotic way to harvest coconuts
Shimmying up a coconut tree is a job for experts, and certainly not for the faint-hearted. So when the community of coconut climbers began to shrink with the young veering to more "dignified" professions, a worried Kerala government looked for ways to harvest the versatile 'drupe' – and found...
Land costs which is soaring in coconut farming regions, increasing logistical /transport cost burden which is adding up everyday due to shooting petrol /fuel costs, etc. adds up to the trouble.
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rdst_1
Innovator
Haha.. Talking about Ramdev mate.
But as @TEUser2K1 has pointed out below, palm oil's main negative point has been the destruction of rainforests in SE Asian countries for farming palm oil illegally due to the huge demand.
It is supposedly cheap for this very reason as well.
Kaleen Bhaiya
Herald
Yeah, was aware of its envt impact especially in Malaysia and Indonesia. But now NE. I mean it is the only place in India where last of the "actual forests" remains and lala wants to go and screw that too. Atleast he could have started it with an existing land rather than scraping off the forested area.
Cabinet okays ₹11,040 cr to cut palm oil imports
The National Mission on Edible Oils-Oil Palm (NMEO-OP) will have a special focus on the North-eastern region and the Andaman and Nicobar Islands
www.livemint.com
Oh it's already been posted.
Its a good time to bump this thread. I went to buy edible oil today. Something which I paid 150rs last month now costs 170rs. Insane. I checked online and many articles say its because of the Ukraine-Russia issue. And I have one question, Russia is the world's largest edible oil producer and exporter. And India unlike other major countries didn't impose anything on Russia. So then why are the news/oil companies attributing the cause to their ongoing problems? Anyone?
Some news links:
odishatv.in
timesofindia.indiatimes.com
telanganatoday.com
economictimes.indiatimes.com
economictimes.indiatimes.com
Yeah, okay but at how much price???
Some news links:
Russia-Ukraine War Crisis May Soon Lead To Rise In Edible Oil Prices: Odisha Supplies Minister
At a time when the industry experts are claiming that the Russia-Ukraine conflict will have no impact on the Indian economy, Odisha Minister for Food Supplies & Consumer Welfare and Cooperation Ranendra Pratap Swain on Friday speculated that the crisis may soon result in an unreasonable rise in...
odishatv.in
As Prices Skyrocket, Dealers Stop Procuring Edible Oil | Bhubaneswar News - Times of India
With the prices of edible oil going through the roof, households in Odisha have started feeling the heat of the ongoing Russia-Ukraine war.
timesofindia.indiatimes.com
Cooking oil prices spike in India due to Russia-Ukraine crisis
Hyderabad: Prices of cooking oil are on an upwards spiral and have gained up to Rs 25 more per litre. The trade segments attribute the increase in prices to the tightening supplies of sunflower and safflower oils, both called as sun oils, to the Russia-Ukraine war. Also, palm oil imports are...
Record cooking oil prices are latest threat to surging food inflation
Ukraine and Russia are not only major suppliers of wheat, corn and barley, but they also ship more than 75% of global exports of sunflower oil, one of the worlds four leading edible oils. Thats made a tight global market even tighter and sent prices of palm and soybean oil, the two most used...
Oil Supply | Cooking Oil Supply : Industry assures government of smooth cooking oil supplies for next 2 months: Sources
A meeting chaired by Food and Consumer Affairs Minister Piyush Goyal on Friday, reviewed the supply situation of cooking oils, including sunflower oil.
Kaleen Bhaiya
Herald
Make hay when the sun shines....
Nevertheless, if you are concerned about price hikes, then wait for 7th March evening. Crude oil prices are already jacking up with the primary reason given being Russia-Ukraine crisis and the rise in input costs which will get passes on to consumers. Oil, wheat, everyday items which is necessary for survival.
Sanctions or no sanctions, Russia will try to get as much money from its sales mostly in Roubles and they can demand whatever price they want due to demand-supply mismatch.
Ukraine is a major sunflower oil producer. So major players like Adani stocked up oil as there was a warning on possible war. Others are scrambling. As a result Alternate oil prices have gone up. Palm oil is at all time high by some margin.Its a good time to bump this thread. I went to buy edible oil today. Something which I paid 150rs last month now costs 170rs. Insane. I checked online and many articles say its because of the Ukraine-Russia issue. And I have one question, Russia is the world's largest edible oil producer and exporter. And India unlike other major countries didn't impose anything on Russia. So then why are the news/oil companies attributing the cause to their ongoing problems? Anyone?
Some news links:
Russia-Ukraine War Crisis May Soon Lead To Rise In Edible Oil Prices: Odisha Supplies Minister
At a time when the industry experts are claiming that the Russia-Ukraine conflict will have no impact on the Indian economy, Odisha Minister for Food Supplies & Consumer Welfare and Cooperation Ranendra Pratap Swain on Friday speculated that the crisis may soon result in an unreasonable rise in...
As Prices Skyrocket, Dealers Stop Procuring Edible Oil | Bhubaneswar News - Times of India
With the prices of edible oil going through the roof, households in Odisha have started feeling the heat of the ongoing Russia-Ukraine war.
Cooking oil prices spike in India due to Russia-Ukraine crisis
Hyderabad: Prices of cooking oil are on an upwards spiral and have gained up to Rs 25 more per litre. The trade segments attribute the increase in prices to the tightening supplies of sunflower and safflower oils, both called as sun oils, to the Russia-Ukraine war. Also, palm oil imports are...
Record cooking oil prices are latest threat to surging food inflation
Ukraine and Russia are not only major suppliers of wheat, corn and barley, but they also ship more than 75% of global exports of sunflower oil, one of the worlds four leading edible oils. Thats made a tight global market even tighter and sent prices of palm and soybean oil, the two most used...
Yeah, okay but at how much price???Oil Supply | Cooking Oil Supply : Industry assures government of smooth cooking oil supplies for next 2 months: Sources
A meeting chaired by Food and Consumer Affairs Minister Piyush Goyal on Friday, reviewed the supply situation of cooking oils, including sunflower oil.
What about groundnut oil and seaseme oil. Are they also bound to go up?
nRiTeCh
Northstar
Not unlikely as they are produced locally..
bssunilreddy
Juggernaut
If by next week petrol & diesel prices shoot up due to Ukraine war then assume every edible items prices will shoot up.