Price pressure: Edible oil imports raise CAD concerns

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Updated: November 17, 2021 7:51 AM

Even as import of vegetable oils — edible oil make up for ~97% of it — remained flat in volume term in the marketing year ended October 31, its value jumped, since global prices skyrocketed.

Edible oilIf the prices continue to remain elevated, they could pressure India's current account, at a time when high prices of crude petroleum and LNG and rising coal imports are already a cause for concern.

Even as import of vegetable oils — edible oil make up for ~97% of it — remained flat in volume term in the marketing year ended October 31, its value jumped, since global prices skyrocketed.

If the prices continue to remain elevated, they could pressure India’s current account, at a time when high prices of crude petroleum and LNG and rising coal imports are already a cause for concern.

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