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

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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.