August 9, 2022
Edible Oil Prices: Relief from expensive edible oil, government asked oil companies to reduce prices

Edible Oil Prices: The kitchen budget of the common people has been badly damaged due to the cost of cooking gas, vegetables and grains as well as edible oil. People are losing their sweat in depositing ration for the month. In such a situation, the government is going to give some relief to the people on this front. Yesterday i.e. on Thursday, August 4, a meeting was held between the Union Food Secretary and the representatives of the companies manufacturing the edible oil.

According to the information, in this meeting, the government has asked the edible oil companies to price the edible oil. The government says that the prices of edible oil have come down in the international market, so domestic consumers should also get the benefit of it. It is believed that oil prices can be cut by 10 to 12 rupees. If the government is successful in reducing the prices of edible oils, then the common people will get a big relief in the festive season.

Reduce prices within 15 days

According to information received from sources, in a meeting called in New Delhi on Thursday, Union Food Secretary Sudhanshu Pandey urged the Edible Oil Association and other stakeholders to reduce oil prices within 15 days. asked to do. Pandey has asked to reduce the prices by Rs 10 to 12. Let us tell you that this was the third meeting between the government and the oil companies regarding the price.

Prices have come down already

Edible oil companies have already reduced the prices on the orders of the Central Government. Last month, the government had ordered the Edible Oil Association to cut prices by up to Rs 15. After which many edible oil companies including Patanjali to Adani Wilmar had cut the prices of edible oil.

Explain that India imports most of its consumption of edible oil from abroad. When oil is expensive in the foreign market, it also affects the domestic market. According to one figure, India imports 60 percent of its edible oil from abroad. This is the reason that India’s prices also depend on foreign prices.

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