ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Sunflower, Oil of the Future

Sunflower, Oil of the Future D P Sharma PERHAPS not many persons are aware that on May 20 groundnut oil in Bombay's wholesale market touched a three-year low of Rs 30,700 a tonne and that, with the notable exception of coconut oil, all other commonly used edible oils are currently priced lower than a year ago (June 1, 1991). Groundnut oil is cheaper by 9.9 per cent, sunflower oil by 10.9 per cent, refined rupeseed oil by 7,1 per cent, refined toytbean oil by 6.7 per cent, refined cottonseed oil by 10.7 per cent and kardi oil by 6.1 per cent. While the jelief at the retail level; which matters most, has been rather modest, it should be regarded as quite significant when viewed in the light of the general inflationary environment. The official index for wholesale prices shows a rise of about 12.6 per cent over the 12-month period on a point-to-point basis. Indeed, edible oil is about the only item of daily consumption which costs less today than it did a year ago.

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