Centre directs Edible Oil Associations to reduce prices by Rs 15 

The edible oil prices in the international market are witnessing a dramatic fall

The Department of Food and Public Distribution has directed leading Edible Oil Associations to ensure reduction in the MRP of edible oils by Rs 15 with immediate effect.

The Centre also advised that the price to distributors by the manufacturers and refiners also needs to be reduced immediately so that the price drop is not diluted in any way. It was also impressed upon that whenever a reduction in price to distributors is made by the manufactures/refiners, the benefit should be passed on to the consumers by the industry and the Department may be kept informed on regular basis.

Some companies which have not reduced their prices and their MRP is higher than other brands have also been advised to reduce their prices.

During the meeting it was discussed that the international prices of imported edible oils are on a downward trend which is a very positive picture in the edible oil scenario and, therefore, the domestic edible oil industry needs to ensure that the prices in the domestic market also drop commensurately.

The Department is continuously monitoring the prices and availability situation of edible oil in the country and it is imperative that the benefit of reduced duty structure on edible oils and the continuous significant drop in prices at the international market be immediately passed on to the end consumers without fail.

image credit- shutterstock

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