Govt on Edible Oil Price: Would not be loose on festivals? Government said this to oil companies
There is relief news for the common people amidst increasing inflation on food and drink in the country. There may be a big fall in the price of eating oil before the festival. The government has entrusted the oil companies to reduce the price of oil immediate There is relief news for the common people amidst inflation. There may be a big fall in the price of eating oil before the festival. The government has given the opposition to the oil companies that the price of oil should be reduced immediately. In fact, this has been decided in the meeting of the Food Secretary with companies regarding the prices of edible oil.
Government gave instructionsRead more: Richa Chadha and Ali Fazal will marry this year: Delhi and Mumbai will be functions in September; Marriage was postponed due to Corona
The government has instructed the oil companies to cut prices by 10 rupees in the next two weeks. Significantly, the Food Ministry had convened a meeting of edible oil manufacturers and business bodies to discuss the possibility of cooking oil retail prices and the possibility of decrease in the last month. Many issues were talked about in this meeting. Let us tell you that this was the third such meeting after the month of May.
Consumers should get benefit
In fact, after removing the ban on shipment from Indonesia, the largest exporter of palm oil, the supply of sunflower and soy oils has become easier. Due to this, the fall in global edible oil prices has been seen. Sources in the Food Ministry told FE that the industry will have to give its benefit to consumers. An official said, "There is a scope for further reduction in the retail prices of edible oil." It is known that India completes 56 percent of its annual edible oil consumption through imports. However, before this, the oil companies had cut the price after the government's instructions.
Last month, the Food and Public Distribution Department had asked companies to reduce prices by at least Rs 15 per liter in view of the softening of global prices in the meeting with edible oil manufacturers and business associations.
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