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Sunflower oil prices surge in India forcing fall in consumption

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Sunflower oil prices surge in India forcing fall in consumption

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The rising price of edible oil is giving quite a few households indigestion. With sunflower oil prices shooting through the roof, consumption has seen a significant fall.

It's not just crude oil prices that are on the rise -- the rising price of edible oil is also giving quite a few households indigestion. With sunflower oil prices shooting through the roof, consumption has seen a significant fall.

It is noteworthy that the Russia-Ukraine war has led to a surge in prices and concerns about product shortages across industries as both Russia and Ukraine are key suppliers of sunflower oil and wheat.
The cutbacks on sunflower oil are not astounding. From an average of Rs 98 rupees per litre across brands in mid-February 2019, the price of sunflower oil has surged to between Rs 180 and 250 per litre, depending on the brand in question. This surge has had households switching to other types of oil -- like groundnut oil -- which are relatively cheaper.
Watch the accompanying video of CNBC-TV18’s Shilpa Ranipeta for more details.
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