The boom in edible oil prices is affecting consumption and hitting food company margins. A successful strike by the government could bring much needed relief
The Indian government is getting serious about cutting edible oil prices. But it’s not an easy task as much of the inflation is imported. Globally, supply shortages and a firming up of import demand, as consumption recovers in several countries, has sent prices soaring. Rising fuel prices are also a reason for rising prices of oils that serve as feedstock for biofuels. Last week, the government cut the effective customs duty on crude palm oil, crude soyabean oil and crude…
