In the coming days, common people can get relief in the budget of century kitchen. The reason is that there can be a 6 percent drop in the price of edible oil. Edible oil companies have decided to reduce the prices of cooking oil by up to 6 per cent following the advice of the government. In fact, the government says that there has been a fall in the prices of the commodity in the international market, according to which there is a need to change the price of edible oil at the local level.
5 and 10 rupees will be less
Adani Wilmar, owner of Fortune brand, and Gemini Edible and Fats India, which owns Gemini brand, have decided to cut prices by Rs 5 per liter and Rs 10 per liter respectively. He said that the benefit of the reduction in prices would reach the consumers in three weeks. The Solvent Extractors Association (SEA) issued a statement on Tuesday saying, “The Department of Food and Consumer Affairs has advised SEA to inform its members to reduce the MRP on edible oils and pass on the benefits to the consumers.
Prices were not reduced even after increase in production
SEA said that in the last six months, especially in the last 60 days, there has been a decrease in the price of crude palm oil in international prices. Despite bumper production of groundnut, soyabean and mustard, local prices did not fall in line with international markets. Because of which the government has to give such instructions to the edible oil companies.
According to the data of the Department of Consumer Affairs, on May 2, the price of groundnut oil is Rs 189.95 per liter, mustard oil is Rs 151.26 per liter, soya oil is Rs 137.38 per liter, sunflower oil is Rs 145.12 per liter in the country. In which there will be a decline in the next three weeks.