Price of palm oil increases by Rs 10, sunflower oil by Rs 15 per litre in Odisha
Edible oil prices in Odisha are rising sharply, driven by Indonesia’s B50 biodiesel policy reducing palm oil supply and ongoing Middle East tensions disrupting markets. Palm oil prices rose ₹10/litre, sunflower ₹15, and mustard ₹5, with traders warning of further increases amid tight global supply.
Bhubaneswar: The prices of edible oil including palm oil, sunflower oil and mustard oil has increased in Odisha. The rise in palm oil price is caused by as Indonesian government brings new B50 rule.
The Indonesian government produces the highest amount of palm oil in the international market. Now, the Indonesian government has brought a new B50 rule.
Under the new rule, Indonesia plans to implement its biodiesel mandate—a blend of 50% palm oil-based biodiesel and 50% conventional diesel. This means, Indonesia will reserve 50 percent of the palm oil produced in the country for biodiesel. Due to this, the palm oil supply will decrease by 50 percent.
As the palm oil has a high demand in the international market, the price of palm oil is increasing.
In odisha, the price of palm oil has increased by Rs 10 per litre while the prices of the other oils have also increased. For example, the cost of the sunflower oil has increased by Rs 15 per liter, while mustard oil has increased by Rs 5 per liter.
This situation is caused due to war in the Middle East which has disrupted the oil supply.
If the situation continues like this, the price of edible oil may increase further, said Sudhakar Panda, General Secretary of the Odisha Traders Association.
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Source : Kalinga Tv
