HomeCURRENT AFFAIRSBUSINESSEdible oil prices ease; major brands cut price

Edible oil prices ease; major brands cut price

Food Secretary Sudhanshu Pandey said on Wednesday that due to the reduction in international rates and timely intervention of the government, the prices of edible oil 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 remain in the range of Rs 150 to 190 per kg.

Last week, edible oil companies – 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 soon hit the market. “The trend in edible oil prices is very positive due to timely intervention of the government and global developments,” Pandey told reporters.

Not only are the prices of edible oil, retail wheat and wheat flour stable, he said, adding that the rules have been useful to keep domestic prices under check. A senior food ministry official said major edible oil brands have have reduced the MRP in a phased manner and recently theyPrices have been cut by Rs 10-15 per liter.

According to data compiled by the Department of Consumer Affairs, the average retail price of groundnut oil (packed) was Rs 188.14 per kg on June 21, while it was Rs 186.43 per kg on June 1. The price of mustard oil was Rs 183.68 per kg on June 1. 180.85 per kg on June 21 with a slight fallHas been. The price of vegetable remains unchanged at Rs 165 per kg.

Soya oil prices declined marginally to Rs 167.67 from Rs 169.65, while sunflower prices declined marginally to Rs 189.99 from Rs 193 per kg. Palm oil prices declined from Rs 156.52 on June 1 to Rs 152.52 per kg on June 21. The department is monitoring the prices of 22 essential commodities like rice, wheat, flour, some pulses.

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