Edible oil prices in India are showing a declining trend across a wide array of oils.As per the data from Department of Consumer Affairs, over the past month, the prices of edible oils are now coming down. In some cases, the decline is by as much as nearly 20 % , as shown in prices in Mumbai.
The price of Palm Oil was Rs 142 per kg on May 7 ‘21 now it came down to Rs 115 per kg, a drop of 19%.
The price of Sunflower Oil was Rs 188 per kg on May 5 ‘21 now it came down to Rs 157 per kg, a drop of 16%.
The price of Soya Oil was Rs 162 per kg on May 20 ‘21 now it came down to Rs 138 per kg in Mumbai, a drop of 15%. NAFED Launches Fortified Rice Bran Oil to Boost Healthy Living, Provide Opportunities for Indian Edible Oil Manufacturers Further.
In the case of Mustard Oil, the price was Rs 175 per kg on May 16 ‘21 now it came down to Rs 157 per kg, a drop of nearly 10%.
While the price of Groundnut oil was Rs 190 per kg on May 14 ‘21 now it came down to Rs 174 per kg, a drop of 8%.
The price of Vanaspati was Rs 154 per kg on May 2 ‘21 now it came down to Rs 141 per kg, a drop of 8%.
It may be noted that Prices of edible oil pricesare dependent on a complex set of factors which also include international prices,domestic production.As the gap between domestic consumption and production is high, India has to import a significant amount of edible oil. Government is working on a series of mid- and long-term measures to resolve the issue on a permanent basis.
The measures will contribute towards making India AtmaNirbhar in Edible Oils, which is key ingredient in cooking of food in India.
(The above story first appeared on LatestLY on Jun 16, 2021 06:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).