The Covid-19 has had unpredictable effects on the Agri-commodity industry and has caused a deep global economic slowdown. The Agri-commodity sector covers a wide range, from production to import and export of agriculture commodities. Covid-19 hampered the food and beverage industry badly. Concerning the edible oil export industry, the coronavirus pandemic has turned into a dual-shock, affecting both – the supply and demand.
Edible oil or cooking oil plays the most important role in the Agri commodities market. Being a major economic booster for any nation. They are vital for all kitchens as well. Almost all varieties of them are extracted from seeds, while some oils are extracted from fruits or kernels. The process of extracting oil is done either with the help of machinery or through chemical extraction. This piece of write-up gives you more information about how their exporters in India are contributing towards making India Atmanirbhar in Edible Oil Production.
Edible oil prices in India have surged to the highest level in over a decade this month, resulting in distress among millions of Indian households.
The prices of six edible oils — groundnut oil, mustard oil, vanaspati, soya oil, sunflower oil, and palm oil — have risen between 20% and 56% at all-India levels in the last year, as shown by data available on the Department of Consumer Affairs website.