Russia-Ukraine war: Vigilance officials raid traders in AP after rise in edible oil prices
India Today
Vigilance officials raided traders in Andhra Pradesh after prices of edible oils increased in the state, since the beginning of the Russia-Ukraine war. Cases were registered against traders for hoarding and hiking the prices of edible oils.
The Vigilance and Enforcement Department of Andhra Pradesh launched raids and surprise checks on traders for unauthorised hoarding and trading of palmolein oil, other edible oils, oilseeds and pulses. This comes after the surge in prices of edible oils since the beginning of the Russia-Ukraine war.
On February 6, as many as 126 wholesale traders, retail traders, supermarkets and manufacturing units were inspected by the vigilance officials.
According to officials, 16 cases were registered for hoarding and 15 others were booked for charging excess prices on edible oils. Besides, oil samples were collected for testing the quality.
READ | Crude oil not the only problem, more than 80% of India’s sunflower oil imports are from Ukraine
The officials also warned traders in the state to prevent illegal hoarding of palmolein and other edible oils, pulses and other commodities that causes a surge in prices and creates artificial scarcity.
‘’We will take appropriate action on licensing conditions apart from criminal action," an official said.
As the war between Ukraine and Russia rages on, imports from Ukraine have halted. Andhra Pradesh imports a large quantity of sunflower oil from Ukraine. The black sea region, including Ukraine and Russia, supplies 80 per cent of the world’s crude sunflower and sunflower oils. India alone imports 70 per cent of sunflower oil from Ukraine.
