‘Edible oil prices have shot up across world’, Goyal inform to Rajya Sabha

NEW DELHI: On Friday, Commerce and Industry Minister Piyush Goyal told the Rajya Sabha that prices of edible oils have risen all around the world due many factors, including the conflict in Ukraine.

In response to a query about the impact of the Ukraine war on sunflower oil imports into India, he stated that sunflower oil is a minor component of India's entire edible oil basket. Because it was being imported from Ukraine before Russia and Ukraine went to war, the government is now looking at the potential of importing it from other countries as well. Goyal praised India's farmers for increasing mustard crop seeding this year, saying that the country's reliance on imported edible oil will be reduced as a result. He saw it as a chance for India to encourage farmers to diversify their crops by including edible oil seeds and pulses.

In response to a question from DMK member P Wilson concerning those who left their enterprises in Ukraine and returned to India after the war began, the Minister stated that no one has approached the ministry to complain about their business being disrupted as a result of the war.

Although doing business in a foreign country is an independent activity from which the government cannot intervene, he added that the government is in conversations with the importers and exporters who have been affected by the situation and that measures have been taken to guarantee payments are made on schedule.

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