Cooking oil gets costlier due to expensive imports from Malaysia and Indonesia
Updated : December 21, 2019 12:37 PM IST
Palm oil prices have shot up by Rs 20 a litre (more than 35 percent) in the last two months.
Moreover, an increase in export duty on soy oil from Argentina will increase the cost of soy oil imports in India, which may lead to a further rise in prices of cooking oil.
According to Solvent Extractors data, the import of vegetable oil (edible and non-edible) oils into the country was 11,27,220 tonne in November this year as compared to 11,33,893 tonne in the same month a year ago.
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