Cottonseed oil prices to rise by almost 5% during upcoming festive season: NK Proteins
Cottonseed oil prices are expected to rise by 5% during the festive season (August-November) due to limited supply and higher demand, said Priyam Patel, MD of NK Proteins. Speaking at the 5th SEA-AICOSCA Cottonseed, Oil & Meal Conclave 2024, Patel noted that indigenous oil supply is limited, leading to a critical availability of cottonseed oil. This may result in a spike in prices, affecting the edible oil market. The conclave was held in Ahmedabad, where NK Proteins is based.
In the run up to the festive season, prices of cottonseed oil are expected to rise by close to 5 percent later this year, said Priyam Patel, Managing Director of NK Proteins, an Ahmedabad-based edible oil brand. “If there is higher demand in the market during the festive period (between August-November), then we will see a spike in prices for edible oil. This is because the supply is limited for indigenous oils. If we talk about cottonseed oil, its availability is expected to remain critical,” said Patel on the sidelines of 5th SEA-AICOSCA Cottonseed, Oil & Meal Conclave 2024, held here.
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