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Cooking oil is expected to cost up to 10% less over the next week as world prices fall due to coronavirus. Global prices have a strong influence on the Indian market because the country imports nearly 70% of its annual consumption of edible oil, i.e 23.5 million tonnes. Current wholesale prices of branded soyabean and palm oil are Rs 78/liter, while those of sunflower oil are Rs 82/liter. With the spread of the coronavirus, a further drop in prices of Rs 3/liter is expected.