NEWS IMPULSE | EDIBLE OIL PRICES | 4TH SEPTEMBER 2021
Syllabus Section: Economy (GS Paper III) Importance: UPSC Prelims and UPSC Mains Why in News? Soaring edible oil prices are likely to soften by December as international commodity futures show a declining trend. About: Average retail prices of major edible oils have risen by up to 48% over the last year. Reason for surging the prices is: Surge in global prices and Lower domestic production of soybean, which is India’s largest oilseed crop. Excessive buying of edible oil by China. Many …
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