Nagpur: With the Diwali festival around the corner, the demand for edible oils is witnessing a steep rise resulting in prices flaring up in the Nagpur wholesale market.
According to a report, within the past 15 days, the soybean oil which is mostly used in households for cooking food has gone up by Rs 250 per tin of 15 kg in the wholesale market. The price rise is attributed to the jump in demand due to the Diwali festival.
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Thursday 13 March 2025
According to a trader, every year it is generally observed that during the Diwali festival period there is a big impact on the demand and therefore prices of edible oils tend to move up in the market, he said. In the Itwari wholesale market, the soybean oil is being quoted at Rs 2,200 per 15 kilogram tin, as compared to Rs 1,950 per 15 kg tin in the past 15 days, a rise of Rs 250 per 15 kg tin, the trader said.
Similarly, palm oil is being quoted at Rs 1,700 per 15 kg tin, as compared to Rs 1,650 per 15 kg tin within the past 15 days, groundnut oil prices are being quoted at Rs 2,750 for 15 kg tin, as compared to Rs 2,650 for 15 kg tin and rice bran is being quoted at Rs 2,100 per 15 kg tin, as compared to Rs 2,000 per 15 kg tin during the same period.
While sunflower oil is priced at Rs 2,150 for 15 litre tin, as compared to Rs 2,100 for 15 litre tin, sources mentioned. In retail, the soybean oil packet of 910 gram has increased from Rs 135 per packet to Rs 145 per packet within the past 15 days. It is expected that the soybean oil packet prices will not go above the Rs 155 per litre level as there is ample supplies coming in the market to contain the prices from skyrocketing.
Another factor to keep prices under check would be the arrival of the new produce of soybean in the market by the end of this month. At that time the prices of soybean oil could fall by another Rs 50 to Rs 100 per quintal from the current levels in the wholesale market, reports pointed out.
