Maharashtra : Edible Oil Prices Surge in Pune Market Yard Amid Global Tensions and Festive Demand
Edible oil prices in Pune’s Market Yard surged on July 2 due to increased demand and Middle East tensions. Wholesale rates rose ₹3–₹4/kg; cans cost ₹40–₹50 more. Coconut oil saw sharp hikes amid supply drops, while vegetable ghee prices fell slightly due to weak demand. Traders warn of continued volatility with upcoming festivals and global uncertainties impacting supply routes.
Market Yard, 2nd July 2025: The prices of edible oils in Pune’s Market Yard have surged sharply due to rising demand and ongoing geopolitical tensions between Iran and Israel, according to local traders. The wholesale rates for various cooking oils have increased by ₹3–₹4 per kilogram, while 15-liter and 1-liter cans have become costlier by ₹40–₹50. Although tensions in the Middle East have eased slightly, supply routes remain disrupted, pushing up international oil prices and impacting local markets. “The market is under pressure from both high demand and global uncertainty. Prices are unlikely to stabilize soon,” said Rai Kumar Nahar, an oil trader and President of The Poona Merchant Chamber.
He noted that while edible oil prices had briefly declined following a 10% reduction in import duties on crude oil, the ongoing conflict has driven mineral oil prices back up. This, combined with seasonal factors like the monsoon and upcoming festivals, has led to renewed demand and upward pressure on prices. Among the oils most affected are safflower (sarki), palm, and sunflower oils, which have seen price hikes of ₹50–₹60 per 15-liter or 15-kg can, except for groundnut oil, which has remained relatively stable. Coconut Oil Sees Sharp Increase Adding to the pressure is a reduction in coconut production, which has led to a significant jump in coconut oil prices. The wholesale price of a 25-kg can of coconut oil has now touched ₹6,000, fueled by a steep rise in gota coconut prices.
The high cost has also caused a drop in supply in the wholesale market. Vegetable Ghee Sees Slight Decline Interestingly, while edible oils have become more expensive, vegetable ghee prices have dropped by ₹50 per can, mainly due to sluggish demand, traders said. Current Wholesale Prices (per 15 kg or 15-liter can): Groundnut oil: ₹2,100 – ₹2,400 Sunflower oil: ₹1,980 – ₹2,130 Palm oil: ₹1,635 – ₹2,160 Safflower (Sarki) oil: ₹1,950 – ₹2,200 Vegetable ghee: ₹1,850 – ₹2,200 “With international market conditions still uncertain and festival demand rising, further price increases cannot be ruled out,” Nahar warned. Traders are urging both consumers and retailers to plan ahead, as price volatility is expected to persist in the coming weeks.
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Source : Punekar News
