Edible oil prices rising in Odisha due to global factors, demand: Cuttack Chamber of Commerce Secy

Cuttack: Prices of edible oil have increased significantly in Odisha over the past two months, with traders attributing the rise to global factors and changing market demand.

General Secretary of the Cuttack Chamber of Commerce, Prafulla Kumar Chhatoi, said the price hike did not occur suddenly. According to him, the increase began in January and has continued since then. During this period, the prices of edible oils have gone up by around ₹20 to ₹25 per litre.

He said the rise has been more noticeable in refined oil and palm oil. However, mustard oil has not seen a similar sharp increase in price.

Chhatoi explained that the ongoing conflict in the Middle East has contributed to the price surge. The situation has led to reduced imports of edible oil.

At the same time, many consumers are buying larger quantities of oil due to fears of further price increases. This higher demand, along with limited supply, has pushed prices upward in the market, he said.