The government has said there is currently no proposal to supply edible oils to consumers at subsidised rates. Data shows domestic production of edible oils in 2020-21 was 111.51 lakh tonnes against imports of 134.52 lakh tonnes, while demand reached 246.03 lakh tonnes. Groundnut oil retail prices also rose sharply to Rs 176.28 per kg.
Iran’s “resistance economy” is being hit hard by the US Israel war, with mounting economic pressure showing up in higher food prices and weakening social development indicators. As markets and institutions face the risk of deeper damage, Iran may be pushed toward drastic moves that could spark violent escalation—or force a new regional understanding.
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Asia’s key rice export hubs are seeing limited activity as freight costs climb sharply following conflict in the Middle East. Traders say buyers are holding back until shipping rates ease, keeping prices muted. Still, Bangladesh’s domestic market remains firm ahead of Eid-ul-Fitr, with aromatic rice demand picking up despite the broader export slowdown.
India has lifted its total wheat export quota to 5 million tons, with the stated goal of supporting local markets. Fresh supplies from the new-season crop are already arriving, and prices are hovering close to the government-set floor price. Traders, however, are reportedly still dealing with complications from the earlier allocation.
Thai rice prices have recorded their sharpest jump in over two years, as rising fuel and fertilizer costs tied to the Iran conflict squeeze farm economics. Even if tensions ease, experts expect higher input costs to linger, raising the risk of weaker rice output later. The ripple effect could tighten rice supplies across parts of Asia and lift food prices.
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