Agrochemical companies, whose raw materials are derived from crude oil, have stopped purchase of raw materials for the time being, or are buying in cash according to immediate requirement, and not opening letter of credit (LC) with banks to import raw materials. On the other hand, institutional buyers of edible oils like hotels and restaurants are feeling the heat of rupee depreciation as they have to purchase edible oil at spot prices fixed for the day and are influenced by the dollar rupee exchange rate.
