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

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iPwnz

iPwnz

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

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Frying pan to fire: Why did edible oil prices in India go up so quickly?

Inefficient farming, reliance on imports – and sheer bad luck.
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This is bad. Like really bad. :(
 
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Crapmypants said:
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.
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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.
 
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Crapmypants said:
3. The biggest selling brand of oil is fortune owned by adani
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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.
 
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iPwnz said:
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.
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We avoid Fortune entirely so that leaves us with Saffola, Sunrich, Godrej etc. Also, I buy 5L can whenever possible.
 
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Mr.J said:
We avoid Fortune entirely
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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 ?
 
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Mr.J said:
We avoid Fortune entirely so that leaves us with Saffola, Sunrich, Godrej etc. Also, I buy 5L can whenever possible.
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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.
 
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.
 
jiith77 said:
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.
Click to expand...
Very valid points. Also, Oil prices have gone up and down umpteen times. Fortune/Ruchi control a very miniscule portion of the market.
 
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/-
 
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:

Home | Department of Consumer Affairs | Ministry of Consumer Affairs Food and Public Distribution | Government of India

Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution, Government of India
consumeraffairs.nic.in consumeraffairs.nic.in
 
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