Edible Oil Prices down by 10-15 rupees, Confirms Food Secretary

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New Delhi: Prices of edible oils in major markets of the country have started to go down after the center’s nod to reduce VAT on Petrol and Diesel. This has led to a reduction in transport charges. As per the Union Food Secretary, Sudhanshu Pandey, a decline of Rs. 5-20 per kg is seen in major oils like coconut, refined oil, etc. 
He added that branded oil makers have also revised the rates for new stock.
A month ago, Prices of edible oils in retail markets jumped by double rates parallel with global prices. The global prices went up due to reduced availability and high demand.

While talking to media reporters, Sudhanshu told reporters that, Retail palm oil prices in Delhi declined to Rs. 133/kg, while it fell to Rs 122 /kg in Aligarh, Uttar Pradesh. Edible oil rates have gone down similarly in other parts of the country. 
  
The central government looks out for retail prices of six edible oils from 167 centers across the country.
Mustard Oil continues to be heavily priced. Sudhanshu added, “We are not seeing a significant reduction in prices,” but the steps taken by the government including import duty rationalization will have soon had an impact on it too.’ 
Whereas, the global edible oil prices have stabilized in the last ten days and may start to go down again. Food Secy. Has asserted that reduction in import duty and other steps like imposition of stock limits to curb hoarding has helped to reduce domestic prices.

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