New Delhi: In the last one and a half years, the prices of mustard oil price, refined oil price and other edible oil prices have seen a lot of momentum. The government has been taking several steps to control the prices of these oils. But now the conflict between Russia and Ukraine can lead to a further increase in oil prices. Let's know that the main reason for this is:-

As the Russia-Ukraine war progresses, the impact on the supply of crude edible oil to India may be seen. India meets 70 per cent of its edible oil requirement through imports. In the case of sunflower oil, it is even more so. The Russian-Ukraine region is even more important for this segment. In such a situation, if the two countries do not end the fight in the next 7-10 days, then the impact on the supply of edible oil will be seen and it will increase the prices. Angshu Malik, chief executive officer and managing director of the country's largest edible oil company Adani Wilmar, said they were keeping a close watch on the situation.

Malik said, "Russia and Ukraine meet 90 per cent of the requirement of sunflower oil. Our dependence on sunflower oil in all oils is around 15 per cent. If things return to normal in 7-10 days, things will be normal because oil imports have 45 days of stock. But if the crisis continues for five to ten days and the oil factories remain closed and there are no ships available, then there will be a slight shortage and the impact may be seen in April." Marico Ltd, which sells edible oil under the brand name Saffola, has taken steps to reduce costs to keep the price rate under control. The company's MD and CEO Saugata Gupta has said that due to the emerging geopolitical situation, the prices of crude oil and other commodities may skyrocket. Its cascading effect can be seen on raw materials and packaging materials. 

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