Weak Sowing Set to Increase Pulses and Edible Oil Prices

As the nation tries to go past the ongoing pandemic which has left many families in a devastated financial state, price rise in edible oils and pulses has just added fuel to fire. Now comes more bad news as compared to last year, the oilseeds sowing has come down by 10 per cent while the pulses sowing has come down by 1.6 per cent.

Since, the production will be less, the prices are set to rise again. With already high prices, it is going to affect the consumers very badly. As per latest research, the average month end price for sunflower oil on March 31, 2020 was Rs 107. Now as per June 30, 2021, it’s Rs 172, almost 61 per cent increase.

Soya Oil has a 52 per cent price increase as compared to last year while Palm oil and Vanaspati have a 48.6 per cent price increase. Mustard oil stands at Rs 171, a 45 per cent price increase as compared to last year while Groundnut oil has a 28.1 per cent increase.

The prices of pulses are also on a clip. Masoor, Arhar and Gram have increased compared to last year. As of June 30, 2021, Masoor dal stood at Rs 87, Arhar dal at Rs 107 and Gram dal at Rs 76.

If the current monsoon situation remains the same, these prices are set to rise again. Edible oil prices could lead the family budgets in a turmoil.