AMN
The government has said that as per the trend from 167 price collection centers, the edible oil prices have declined significantly in the range of 5 rupees and 20 rupees per kilogram in the major retail markets across the country. Ministry of Consumer Affairs, Food and Public Distribution in a statement said that major edible Oil players including Adani Willmar and Ruchi Industries have cut prices by 15 to 20 rupees per litre.
The other players that have reduced the prices of edible oils are Gemini Edibles and Fats India, Hyderabad, Modi Naturals, Delhi, Gokul Re-foils and Solvent, Vijay Solvex, Gokul Agro Resources and N.K. Proteins. The Ministry said, consequent upon various measures taken by the government, the duty for Crude Palm Oil is now 7.5% and it is 5 per cent for Crude Soyabean Oil and Crude Sunflower Oil.
It added that the latest step taken by the Government for controlling the prices of various oils is with respect to Soya meal. It said Stock limit on Soya Meal has been imposed with effect from 23rd December, 2021 till June 2022 by including it in the Schedule to Essential Commodities Act, 1955. This will cool down the prices and improve supply. The Government has also suspended futures trading in all essential commodities for a period of one year, upto December 2022.
The Ministry added that the reduction in import duty and other steps like imposition of stock limits to curb hoarding has helped cool down domestic prices of all edible oils and granted much required relief to the consumers.
