Acta Scientific Agriculture (ASAG)(ISSN: 2581-365X)

Mini Review Volume 7 Issue 4

Rise in Edible Oil Prices: A Ruinous Effect to India’s Economy

Biplob Dey*, Roop Kishore Sharma, Pallavi Bhatt and Debjeet Sharma

Department of Agriculture Agronomy, Doon PG College of Agriculture Science and Technology, India

*Corresponding Author: Biplob Dey, Department of Agriculture Agronomy, Doon PG College of Agriculture Science and Technology, India.

Received: July 29, 2022; Published: March 07, 2023

Abstract

The food and pharmaceutical sectors have taken notice of the unusual physical, functional, and nutritional qualities of edible oil. In recent years, the price of edible oil has increased dramatically. This paper focuses on examining the impact of the price changes on major edible oils (rapeseed, soybean, palm, and sunflower), which are the main edible oil source in the Indian Agriculture Industry. We examine the scale of the impacts, which are mostly commodity-specific, as well as the causality from first to last consequences on individuals as a result of edible oil prices. Finally, in the conclusion section, we explore how we might address the issue of growing prices.

Keywords: Price; Edible Oil; Economy; Oil Seed; Market

References

  1. Meena KL. “Impact of Russia Ukraine War on Indian Economy”. Academic Journal of Digital Economics and Stability 16 (2002): 54-62.
  2. Dole MS. “Russia-Ukraine war: Impact on Indian Economy”. IJNRD-International Journal of Novel Research and Development (IJNRD)4 (2022): 303-309.
  3. Mohammed N. “The Russia-Ukraine War Crisis-It's Impact on Indian Economy”. International Journal of Research and Analytical Reviews (IJRAR) (2022).
  4. Dohlman EN., et al. “India's edible oil sector: Imports fill rising demand”. US Department of Agriculture, Economic Research Service (2003).
  5. Thomas L., et al. “External market linkages and instability in Indian edible oil economy: Implications for self-sufficiency policy in edible oils”. Agricultural Economics Research Review 26 (2013): 185-198.
  6. 6.      “Edible oil prices surge to highest level in over a decade. Here’s why”. Article published in ‘India Today’ (2021).
  7. “Ukraine war may result in 25% supply shortage of sunflower oil in India: Report”. Article published in PTI (The Press Trust of India Ltd) (2022).
  8. “Russia-Ukraine War to Impact Edible Oil Price, Govt Looking at Import Bill, Export: FM”. Article published in News18 (2022).
  9. 9.      “Why Rising Edible Oil Prices Could Bring Respite to Households”. Article published in ‘Business Today. In’ By Arnab Dutta (2022).
  10. 10.   “Edible oil prices rise: Factors at play and how govt. action is impacting it, explained”. Article published By Yashi Gupta (2021).
  11. Citation

    Citation: Biplob Dey., et al. “Rise in Edible Oil Prices: A Ruinous Effect to India’s Economy". Acta Scientific Agriculture 7.4 (2023): 19-22.

    Copyright

    Copyright: © 2023 Biplob Dey., et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.




Metrics

Acceptance rate32%
Acceptance to publication20-30 days
Impact Factor1.014

Indexed In




News and Events


  • Certification for Review
    Acta Scientific certifies the Editors/reviewers for their review done towards the assigned articles of the respective journals.
  • Submission Timeline for Upcoming Issue
    The last date for submission of articles for regular Issues is December 25, 2024.
  • Publication Certificate
    Authors will be issued a "Publication Certificate" as a mark of appreciation for publishing their work.
  • Best Article of the Issue
    The Editors will elect one Best Article after each issue release. The authors of this article will be provided with a certificate of "Best Article of the Issue"

Contact US





//