Edible Price Cut Update: Expensive edible oil may get relief, the government ordered to reduce the price of 10 to 12 rupees per liter in 15 days
Edible oil prices likely to be cut: The price of edible oil may come down in the coming days. Common people can get relief from expensive edible oil. It is believed that the price of edible oil may come down by Rs 10 to Rs 12 per liter. The Central Government has asked the representatives of edible oil companies to pass on the benefits of the fall in the prices of edible oil in the international market to the consumers.
In fact, on Thursday 4 August 2022, Union Food Secretary Sundhashu Pandey called a meeting with edible oil associations and other stakeholders. In which it is believed that the government has asked the edible oil companies to reduce the price of edible oil by 10 to 12 rupees in the next 15 days.
This was the third meeting between the government and the edible oil companies. A meeting was also held last month, after which the Department of Food and Public Distribution had asked all major edible oil federations to immediately increase the prices of edible oil. 15 was ordered to be reduced. After which many cooking oil companies including Patanjali to Adani Wilmar were reduced. Edible oil prices.
Significantly, Indonesia has lifted the ban on the export of palm oil a few days ago. Hence the price of edible oil is decreasing in the international market. Following this development, the government believes that there is scope for further reduction in edible oil prices.
The Center has also advised that distributors also need to reduce prices immediately. So that customers can be informed about the reduction in prices immediately without any hesitation. Whenever the price reduction is done by the producers/refiners to the distributors, the benefit should be passed on to the consumers immediately. Also, report it regularly to the department. Some companies which have not reduced their prices and their MRP is higher than other brands have also been advised to reduce their prices.