The rising prices of edible oil have sparked concern among consumers in Odisha, especially the middle class, as household expenses continue to climb. In the last three to four days, the price of cooking oil has increased significantly, adding pressure to family budgets.
Sharp Increase in Edible Oil Prices
In Cuttack’s Malgodown market, the price of refined edible oil has increased by ₹10 per litre. Earlier sold at around ₹160 per litre, the price has now risen to ₹170 per litre within just a few days.
Similarly, the price of palm oil has also gone up by ₹5 per litre. The oil that was previously priced at ₹102 per litre is now being sold at ₹107 per litre.
Limited Stock in Odisha Markets
Traders say the situation has become worrying as Odisha currently has limited edible oil reserves. The state market requires around 1,000 to 1,200 tonnes of refined and palm oil daily, but the available stock is estimated to last only 15 to 20 days.
This shortage has raised concerns about further price hikes if supply does not stabilize soon.
Global Conflict Affecting Supply
Industry sources attribute the price rise to disruptions in global supply chains caused by ongoing conflicts in the Middle East. Ships carrying crude edible oil are reportedly facing delays, which is affecting the timely arrival of supplies.
India imports refined oil from countries like Russia and Ukraine, while crude palm oil is imported from Malaysia and Indonesia. The geopolitical tensions have slowed shipments, leading to supply constraints and rising prices.
Fear of Black Marketing
Experts have also warned that the current situation could lead to black marketing of edible oil if the supply crisis worsens. The continuing conflict in the Middle East and the exchange of missile attacks among global powers have already caused damage and loss of life, further disrupting global trade.
With crude oil and gas prices already rising due to the conflict, consumers now fear that the cost of other essential commodities may also increase in the coming days.
LPG Cylinder Prices Also Increased
Adding to the burden on households, the price of domestic LPG cylinders has also increased. The cost of a 14.2 kg domestic LPG cylinder has gone up by ₹60 across the country, while the price of a 19 kg commercial LPG cylinder has increased by ₹115.
Impact on Hotels and Businesses
The hike in commercial LPG cylinder prices is expected to directly affect hotels, restaurants, and small commercial establishments, which rely heavily on LPG for daily operations.
According to sources, the price of a 14.2 kg domestic LPG cylinder in Delhi has increased from ₹853 to ₹913. In Mumbai, the price has risen from ₹852.50 to ₹912.50, while in Chennai, it has increased from ₹868.50 to ₹928.50.
The revised LPG prices have come into effect from today, further increasing the cost burden on both households and businesses.
Growing Concern Among Consumers
With cooking oil and LPG prices rising simultaneously, consumers are increasingly worried about the rising cost of living. Many fear that if global tensions continue and supply disruptions persist, the prices of other essential commodities may also rise in the near future.