New Delhi: edible oil Food Secretary Sudhanshu Pandey said on Wednesday that due to the reduction in international rates and timely intervention of the government, the prices in the retail market have started coming down.
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 are ruling between Rs 150 and 190 per kg.
Last week, edible oil companies Adani Wilmar and Mother Dairy reduced the MRP (maximum retail price) for various types of cooking oils by Rs 10-15 per litre. Both the companies said that the stock with the new MRP will hit the market soon.
“The trends in edible oils prices are 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 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) 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 has marginally declined to Rs 180.85 per kg on June 21 from Rs 183.68 per kg on June 1. The price of vanaspati is Rs 165 per kg.
Soya oil prices declined marginally to Rs 167.67 from Rs 169.65, while sunflower prices fell marginally from Rs 193 per kg to Rs 189.99.
Palm oil prices declined to Rs 152.52 per kg on June 21 from Rs 156.4 per kg on June 1.
Department monitoring the prices of 22 essential commodities (rice, wheat, flour, chana dal, tur), dal, urad dal, moong dal, masoor dal, sugar, jaggery, groundnut oil, mustard oil, vegetable, sunflower oil, soya oil does. palm oil, tea, milk, potatoes, onions, tomatoes and salt) based on data collected from 167 market centers spread across the country representing the North, West, East, South and North-Eastern regions.
Retail and wholesale prices of 22 items from 167 centers are received daily from the State Civil Supplies Departments of the respective State Governments through a mobile app developed by the Department of Consumer Affairs at the Centre.
Adani Wilmar on Saturday cut the prices of its edible oils by Rs 10 per litre. The MRP of a 1-litre pack of Fortune Refined Sunflower Oil has been reduced from Rs 220 per liter to Rs 210. The MRP of Fortune Soyabean and Fortune Kachi Ghani (Mustard Oil) 1-litre packs has been reduced from Rs 205 per liter to Rs 195.
Mother Dairy, one of the major milk suppliers in Delhi-NCR, said last week that it has reduced the prices of its cooking oil by up to Rs 15 per liter in line with the softening of prices in global markets. The company sells its edible oils under the Dhara brand.
The price of Dhara Mustard Oil (1 liter poly pack) has been reduced from Rs 208 to Rs 193 per litre.
Dhara Refined Sunflower Oil (1 liter poly pack) will now be sold for Rs 220 per liter from the earlier Rs 235. The price of Dhara Refined Soyabean Oil (1 liter poly pack) will be reduced from Rs 209 to Rs 194.
India imports more than 60 per cent of its edible oil requirement.
According to data compiled by Solvent, India’s edible oil imports remained stable at around 131.3 lakh tonnes during the 2020-21 marketing year (November-October), but in value terms, inward shipments grew 63 per cent to Rs 1.17 lakh crore. Gone. Extractors Association of India (SEA).
Imports of vegetable oils (edible and non-edible) during the first seven months of the oil marketing year 2021-22 ending October increased by 1 per cent to 77,68,990 tonnes as compared to 76,77,998 tonnes in the corresponding period of the previous oil market. year.
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