Following the galloping prices of onions and pulses, the retail price of mustard oil is on the upward curve with Diwali drawing nearer. As per the economists, the trend is inevitable, given the plummeting volume of supply and swelling demand. The production of mustard oil is much less as compared to previous years principally because of the unseasonal rain-spawned crop damage. The rates are expected to rise further in the next couple of months as demand for the oil usually rises during winter season.
A mass of mustard crop in Rabi or winter season got adversely effected due to unseasonal rains which were witnessed in March and April this year, thus resulting in dwindling production.
According to Vir Singh, director, communication, Govind Ballabh Pant University of Agriculture and Technology, Pantnagar, the Rabi crop was damaged by the unseasonal rains earlier this year. “Things follow the rudimentary principle of economy-lesser production pushing the prices upward with the demand swelling. The key factors for the good crop depend upon the seed survival and the soil eco- system also, he commented.
In October, the retail price of mustard oil ranged from `90 to `100 per liter. Now, it is `120-130 per liter, said Umesh Sharma, a wholesaler. “For the prices of onion and Arhar pulse to come down, we would have to wait for the new Rabi crop. The same applies to mustard oil,” he added.
Price of the packed branded Kachi ghani mustard oil has reached to as high as `135 per liter , said Uma, a homemaker while venting anger against the unrestrained hike.