In some relief to consumers, amid rising inflation, the price of edible oil is going to be slashed. Food Secretary Sudhanshu Pandey, on Wednesday, said that due to the softening of international rates and timely intervention of the government, edible oil prices have started coming down in the retail market.
According to government data, the average retail prices of packaged edible oils, except groundnut oil, have come down marginally across the country since the beginning of this month and will remain in the range of Rs 150 to Rs 190 per kg.
Read | Edible oil prices to go down as India allows duty-free import of 20 lakh MT oil
Last week, edible oil companies like Adani Wilmar and Mother Dairy reduced the MRP (maximum retail price) for various types of edible oils by Rs 10-15 per litre. Both the companies said that the stock with the new MRP will come in the market soon.
Retail wheat and wheat flour prices also stable
Food Secretary said that due to timely intervention of the government and global developments, the trend in the prices of edible oils is very positive. Not only are the prices of edible oil, retail wheat and wheat flour stable but the rules have been useful to keep domestic prices under check.
Oil brands reduce MRP in a phased manner
A senior food ministry official said major edible oil brands have reduced MRP in a phased manner and recently they have cut prices by Rs 10-15 per litre. According to data compiled by the Department of Consumer Affairs, the average retail price of groundnut oil (packed) on June 21 was Rs 188.14 per litre as against Rs 186.43 per litre on June 1.
The price of mustard oil has come down marginally from Rs 183.68 per litre on June 1 to Rs 180.85 per litre on June 21. The price of vegetable oil remains unchanged at Rs 165 per litre.
Soya oil prices declined marginally to Rs 167.67 from Rs 169.65, while sunflower oil prices declined marginally to Rs 189.99 from Rs 193 per litre. The price of palm oil declined from Rs 156.52 on June 1 to Rs 152.52 per litre on June 21.
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