Oil becoming dearer, consumers' relief not before two months

The consumers' plight does not end with onion, garlic and tomato, cooking oils have also become dearer in the last two-three months and any relief is not expected before February-end.

"Edible oils prices have gone up in the past two to three months. And it is going to remain firm till February-end until fresh rabi crops hit the market," Solvent Extractors Association of India Executive President B V Mehta told PTI.

Edible oil prices, which have increased by about Rs 10-12 per litre, as per the government data, in last two-three months across the country, are likely to remain firm till the end of February, Mehta said.

The price of soya oil has increased by Rs 11 in national capital in the last two months to Rs 77 per litre and by Rs 8 in Kolkata to Rs 62 a litre from Rs 54 per litre.

Mustard oil, however, has turned dearer by Rs 2-3 per litre across the country.

"The rabi crop is very well this time. Acreage has gone up and production is also likely to better. It would bring relief to the consumers after February," he said.

Mustard is the main Rabi oilseeds crop, while soyabean is grown in Kharif season. Soyabean output is estimated to have risen to 10.1 million tonnes in kharif 2010 against 9.7 million tonnes in Kharif 2009.

India imports palm oil from Indonesia and Malaysia while soya oil from Argentina and Brazil.

In 2009-10 oil year (November-October), the country had imported 92.4 lakh tonnes of vegetable oils as compared to 86.6 lakh tonnes in previous oil year.