Opinion - Letters to the Editor   

Spiralling oil prices

Sir, — Edible oil prices have shot up during the past few months, causing concern. The price-rise has been attributed to drought. The south-west monsoons are usually about 40 to 50 per cent normal. Obviously, it will take time for the new crop to reach the market. So, the existing price rise is on the old hoarded stocks. It will benefit only the middlemen and ghani-merchants, who had hoarded the surplus stocks during the last bumper season, and not the farmers. With the festival season about to commence, the ghani wallahs want to make a quick buck. Should not the Central and State Governments intervene and prevent the exploitation of consumers? If the prices fall, we blame the WTO and multinationals, but when they rise, we blame the drought.

C.M. Jayaram,

Coimbatore, T.N.

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