Edible oil prices to remain firm on rising import cost, low inventory

The ongoing trade war between China and United States has lowered export of edible oil from producing countries, resulting into a threat of inflation inimport-reliantt countries

Edible oil prices in India are likely to rise by Rs 5 per kg in the near term on the high cost of imports due to rupee depreciation and a rebound in the prices of crude palm oil (CPO) on the benchmark Bursa Malaysian following trade barriers by both import and export countries.

Prices of edible oils including refined soya oil, mustard oil and sunflower remained low in Indian markets following global move with the CPO prices slipping to multi-year low in the Bursa Malaysian markets. After hitting the low of Malaysian ringgit (MYR) of 2150 a tonne, CPO for near