NEW DELHI, Nov 5: Edible oil prices have fallen in the range of Rs 5-20 per kg across the country on the back of various measures taken by the Government to calm down the prices of the key kitchen item in the festive season, data collected by the department of food and public distribution show.
As per the official data, palm oil in Delhi has come down by Rs 6 per kg while sunflower oil in the national capital fell by Rs 10 a kg between October 31, 2021 and November 3, 2021. Mustard oil price which was Rs 208 a kilo is now Rs 202, a reduction of Rs 6.
Soya oil price in Ludhiana came down by Rs 5 per kg over the last few days.
Talking to reporters here today, Food Secretary Sudhanshu Pandey said that prices of major edible oils such as palm oil, groundnut oil, soya and sunflower oil had decreased on an average by Rs 5-10 across the country.
He noted that prices of edible oil overall are on declining trend.
Prices of mustard oil have also shown declining trend over the last few days.
Pandey said that domestic edible oil prices had fallen despite international commodity prices being high as Government had taken several pro-active measures.
The key measures included reducing import duty on crude palm oil, crude soyabean oil and crude sunflower oil, directing states to put stock limit on oil and oil seeds and direction to edible oil companies to reduce prices.
The current edible oil prices, however, remain higher than year ago period.
Major edible oils players including Adani Willmar and Ruchi Industries have cut wholesale prices by Rs 4-7 per litre, said Pandey.
The other players that have reduced the wholesale prices of edible oils are Gemini Edibles & Fats India, Modi Naturals, Gokul Re-foils and Solvent, Vijay Solvex, Gokul Agro Resources and NK Proteins.
“The Government is taking steps to improve the production of secondary edible oils, especially rice bran oil to reduce the import dependence,” an official press release said.
Amid soaring edible oil prices, the Government had cut the basic duty on crude palm oil, crude soyabean oil and crude sunflower oil from 2.5% to nil. The Agri-cess on these oils had recently been brought down from 20% to 7.5% for crude palm oil and 5% for crude soyabean oil and crude sunflower oil.
In early October this year, the Centre had directed states to impose stock limits on oil and oil seeds. While Uttar Pradesh has put the limit on retailers, whole-sellers and traders, some states are in the process of implementing the order.
Food secretary said that he would hold a meeting with states over edible oil prices in coming days. (UNI)