Not just crude, edible oils too see high inflation; no relief in sight
India’s edible oil inflation has surged sharply, with refined oil inflation more than doubling in four months and mustard oil inflation rising over 21 percentage points. The country imported edible oils worth $19.35 billion in FY26, prompting Narendra Modi to urge reduced consumption.
Indian household budgets are facing renewed pressure as edible oil inflation has surged sharply. Latest data from the Ministry of Statistics and Programme Implementation reveals that the inflation rate for refined oil has more than doubled over the past four months. Concurrently, mustard oil has registered an increase of over 21 percentage points, further intensifying the fiscal strain on domestic consumers.
These numbers are critical as India imports up to 60 per cent of its edible oil requirements, spending nearly $19.35 billion on imports of these products during FY26. Considering the mounting pressure on the rupee due to elevated dollar outflows, Prime Minister Narendra Modi has appealed to the public to reduce consumption.
Noting that edible oil imports, alongside fuel, consume a substantial amount of foreign exchange, the Prime Minister highlighted the dual benefits of lower domestic consumption. “Not only fuel, but also edible oil imports consume a large amount of foreign exchange. If we exercise restraint and reduce the consumption of cooking oil, both the country and our health will benefit,” he had said last week.
To Read more about Edible Oil News continue reading Agriinsite.com
Source : The Hindu Business Line
