Edible Oil Prices : The prices of edible oil which have been running high in India for some time now seem to be decreasing. For this the government has taken many steps.
Edible Oil Prices : Government reduced import duty on edible oils, so much reduction in prices
In India, the edible oil prices that have been running high for some time now seem to be coming down. To give relief to the people from rising inflation, the government has taken many steps including reducing the import duty. Due to which people have now started getting relief from the expensive prices of oil.
Edible Oil Prices : According to the information, the production of edible oils in India is low,
Consumption more. In such a situation, India imports a large amount of edible oil from abroad. Along with domestic production, the price of edible oil in India is affected by the international market as well. If there is more demand in India and less supply outside, the rates go up. On the other hand, if there is more production of oil in the country and abroad, then the prices come down.
Prices fell by up to 20 percent
According to the data released by the Union Food Consumer Affairs Ministry, the prices of edible oils have come down by about 20 percent. According to the ministry, the next crop of soybean will come in October. At present, the arrival of better soybean grains in the mandis is less. After the decision of the government, the new prices of edible oils:-
The price of palm oil has come down by Rs 142 per kg to Rs 115 per kg. In this way, its prices have come down by about 19 percent.
Sunflower oil was Rs 188 per kg in May 21. The price of which has come down by 16 percent to Rs 157 per kg.
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Soya oil prices have come down by 15 percent and mustard oil by about 10 percent.
Talking about mustard oil, it was being sold on 16 May for Rs 175 per kg. Now its price has gone up to Rs 157 per kg. Its prices have come down by 10 percent.
- The price of coconut oil had reached Rs 190 per kg last month. Its prices have come down by 8 per cent and it is now selling at Rs 174 per kg.
If we talk about vegetable ghee, then last month its price had reached Rs 154 a kg. Now its prices have also come down by 8 percent and it is being sold at Rs 141 per kg.
Trying to become self-sufficient in production
According to sources, there is a huge gap between the demand and supply of edible oils in India. The reason for this is that the production is very less in proportion to the demand for edible oils in India. Due to which it has to depend on imports from abroad. The government is now moving in the direction of taking mid and long term measures to solve this problem permanently.
The government is now preparing a plan to increase the production of edible oils in the country. For this, scheme and incentive amount can also be announced for the farmers. The government wants farmers to give priority to producing edible oils by altering their crops. By doing this, the income of the farmers will also increase and at the same time the needs of the country will also be fulfilled.
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