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Rising oil prices
Posted on: 11/Apr/2018 6:12:53 PM
The prices of palm oil, refined oil, and coconut oil have started rising. In the Chennai wholesale shops, the prices of oils have started going up from this month (April).
The traders explained:
As the Import Tax on oil has been increased, the prices of oils have gone up by Rs. 10 per kg.
Palm oil, which was sold at Rs. 65 per kg, is now being sold at Rs. 75 per kg.
Coconut oil, depending on the quality, is being sold at Rs. 200 to Rs. 250 per litre. The traders explained as the yield of copras has come down, the price of coconut oil has gone up.
The oil producers who extract oil from the mechanical device known as chekku in Tamil explained that groundnut oil was being sold at Rs. 60 per kg. Now, it is being sold at Rs. 70 to Rs. 75 per kg. Thus, the price of groundnut oil has gone up. They informed that the high quality groundnut oil is being sold at Rs. 220 to Rs. 240.
