Why Edible oil prices have soared to an 11-year high?
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Prices of edible oils have this month soared to their highest point in over 10 years, official data says, prompting the Indian government to take stock of the situation. The prices have increased up to 62% since last year, Food Secretary Sudhanshu Pandey said at a recent meeting. International prices of oils have been on the rise since last year due to lower production by major suppliers.