RBI links broad-based edible oil price rise to biofuel use, cites Indonesia's B50 mandate
The Reserve Bank of India (RBI) linked rising edible oil prices to increased biofuel production, specifically citing Indonesia's palm oil biodiesel blending mandate shift from B40 to B50. This policy change is significant for India, the largest edible oil importer, which relies on Indonesia for a substantial portion of its palm oil. As of July, edible oil inflation remained above 8%, impacting consumer prices across various oils, with sunflower oil up 18.4% year-on-year to ₹188.98 per kg.