Prices of edible oils have shot up across the world: Piyush Goyal

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Commerce and Industry Minister Piyush Goyal on Friday informed the Rajya Sabha that the prices of edible oils have shot up all across the world because of many factors including the war in Ukraine.

Responding to a question on the impact of the Ukraine war on the import of sunflower oil in India, he said that sunflower oil constitutes only a smaller proportion in India’s overall edible oil basket.

Since it was being imported from Ukraine before the war broke out between Russia and Ukraine, the government is now examining the possibility of importing it from other countries too.

Goyal congratulated India’s farmers for increased mustard crop sowing this year and said that this will reduce the country’s dependence on import of edible oil. He called this an opportunity for India to encourage farmers to diversify their crops to include edible oil seeds and pulses.

Replying to a question asked by DMK member P Wilson about people who left their businesses in Ukraine and returned to India after the war broke out, the Minister said that so far no one has approached the ministry complaining about their business being dislocated due to the war.

Although, business being done in a foreign land is an independent activity and the government will not be able to intervene in such matters, it is in talks with the importers and exporters who have been impacted by this situation and measures have been taken to ensure payments come on time, he said.

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