South Asian Business news and information

India has the second largest population in the world. Naturally, Indian people consume a lot of food products. Good thing is that India produces a lot of food products and India also imports a lot of food items too. Now, there is worry that the price of vegetable oil (edible oil) may rise in India next year.

Reuters reported:

Edible oil prices in India, the world's second-biggest vegetable oil importer, will rise in 2008 with rapeseed/mustard sowing set to dip by up to 30 percent, an official at a leading farm body said on Wednesday.

Farmers planted rapeseed on 7.3 million hectares and produced around 5.5 million tonnes in 2007, but analysts say acreage is likely to shrink and output fall next year as higher wheat prices lure farmers to grow more grains. 

India has been suffering from the ever growing price of crude oil and an increase in the vegetable oil may be a bit too much for the Indian consumers. So, Indian government officials should become alert about the price of vegetable oil and take some measures to keep it under control.

Liked this entry? Then, why not support me? Just subscribe the feed of this blog at free of charge, Please.