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With the Israel-Iran ceasefire holding up and cargo congestion at Kandla Port improving, prices of edible oils have started declining. Prices of imported palm oil have fallen by $30 per tonne to $1,060 per tonne, soya oil by $20 per tonne to $1,150 per tonne, and sunflower oil by $10 per tonne to $1,200 per tonne in the past three days, said industry executives.
“Prices had gone up after tension escalated between Iran and Israel. Additionally, the congestion at Kandla Port had further pushed up prices.
Source: Online/OFA
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