Prices of edible oils down by Rs 5-20 per kg: Food Secy

Prices of edible oils in major markets of the country have seen a decline of Rs 5-20 per kg following various steps taken by the Centre, including an import duty reduction, Union Food Secretary Sudhansu Pandey said Friday.

He said branded oil makers have also revised the rates for new stock.

Prices of edible oils in domestic markets have soared in tandem with global prices – which shot up due to reduced availability following diversion for biofuel in Indonesia, Brazil and other countries.

“The government has taken a number of steps to ensure consumers get relief from high prices. We are happy to share the trend from 167 centres. Edible oil prices have declined quite significantly in the range of Rs 5 and 20 per kg in the major retail markets across the country,” Pandey told reporters here.

Retail palm oil price in Delhi declined by Rs 5 to Rs 133 per kg on November 3, while it fell by Rs 18 to Rs 122 per kg in Aligarh, Uttar Pradesh, by Rs 7 to Rs 125 per kg in Cuddalore, Tamil Nadu in the said period, he said.

The government monitors retail prices of six edible oils from 167 centres across the country.
In the case of mustard oil, Pandey said, “we have not seen a significant reduction in prices,” but the steps taken by the government including import duty rationalisation will have an impact, Pandey said. “We are going to see a southward trend in mustard oil prices too,” he said.

He also said that he had spoken to industry stakeholders and that they also revised the prices for new stocks.

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