Mumbai: Indians storing vegetable oil and fuel, fearing that Ukraine’s invasion of Russia can cause a shortage of edible oil, while a global price rally of crude oil can bring again again Delhi to aggressively increase fuel prices as elections end in key states “On WhatsApp, I read messages that could be baking oil shortages because of the war. So I rushed to buy,” said Rekhana Khan base-based in Mumbai, who Bought 10 liters of edible oil, double its usual monthly purchase of 5 liters.
A jump of more than 20% in feeder oil prices and fake viral messages about social media shortages have triggered the purchase of panic in India, which fulfills more than two-thirds of its request of cooking oil thanks to the import India imports more than 90% of its sunflower oil from Russia and Ukraine, although sunflower oil accounts for about 14% of its total edible petroleum imports.
Supplies of other edible oils – such as the palm, soy, rapeseed oil and nut – are sufficient and it is not necessary to panic, said BV Mehta, Executive Director of the Association of solvent extractors based in Mumbai Meanwhile, petroleum companies at the forefront of the state, which control the internal market, have not increased prices since November 4, in the midst of elections in several key states, including the state of the Most populous state of Uttar Pradesh.
With the vote for the seventh and last phase of Uttar’s Pradesh Assembly elections, consumers are afraid that the government is now moving to increase prices from Tuesday SwapNil Phadtare, Maharashtra’s farmer, said that he stored diesel as local media reports stated that there could be an increase of 15 to 20 € per liter of fuel price following the elections .
“The harvest of the crops sown winter will begin shortly. We need a lot of diesel during this period. To save money, I decided to buy other farmers in my village,” said Mr. Phadare Monday, oil prices have spided up their highest since 2008 as the American and European allies weighed a prohibition of the importation of Russian oil and that delays in the potential return of Iranian crude into global markets fueled fears. supply.