Karnataka : Edible oil prices go up in Gadag
Edible oil prices in parts of Karnataka have risen by ₹8–10 per litre as traders cite supply concerns linked to the West Asia conflict. Consumers fear further increases, while retailers and hoteliers are stocking up amid expectations of higher costs and possible supply tightening in the coming weeks.
GADAG: Retailers have jacked up the price of edible oil citing the conflict in West Asia. Consumers say price has gone up by Rs 8 to 10 per litre. They worry soon petrol, diesel and LPG would be more expensive. The common man who used to get 750 ml of Ruchi Gold oil packet for Rs 108 has now become Rs 120 and the shop owners say that it may reach Rs 140-150 in a month.
The price of these items had gone up when Russia invaded Ukraine. Hoteliers who have already hiked their menu prices a few months ago are again planning a price increase. Menu in many of North Karnataka’s small hotels mainly consist of poori, vada and bhajji for which edible oil is a must. Veeresh Pattar, a hotelier in Ron, said, “Shopowners are buying large quantities of edible oil due to possible price hike.
I too have stocked up because we had an experience during the Ukraine war. If we purchase soon, we can save or the wholesalers will start an artificial scarcity strategy and they will hike prices as they want”
To Read more about Edible Oil News continue reading Agriinsite.com
Source : The New Indian Express
