RBI links edible oil price rise to biofuel use

The Reserve Bank of India (RBI) has said that the recent increase in edible oil prices is because more edible oils are being used to make biofuel.

They mentioned that Indonesia, which is a big supplier of palm oil to India, has increased the amount of palm oil used in biodiesel from 40% to 50%.

This means less palm oil is available for cooking, which makes it more expensive.

India imports a lot of its edible oils, and palm oil is the biggest part of that.

The prices of different kinds of cooking oils have gone up a lot in the last year.

The RBI also said that other vegetable prices, like onions, are also going up, while the prices of rice and wheat are getting stronger.

The prices of some pulses, like moong dal, have gone down a little.