Edible Oil Price: Relief news for common people! The price of edible oil may be cheaper, tomorrow important meeting

Edible oil can be cheaper by 10-15 percent.

Edible Oil Price: In the coming days, the price of edible oil may decrease further by 10-15 percent. An important meeting of the government is going to be held with the producers and exporters tomorrow. The government wants that the benefit of price relief should reach the public and the MRP should be reduced soon.

This is news of relief for the public. in the coming days edible oil ,Edible oil) prices may fall further. An important meeting of the government is possible on Wednesday to bring down the price of edible oil. According to the report of ET Now Swadesh, this meeting will be organized to bring down the price of edible oil in the retail market. All oil exporters and producers will be called in this meeting. Instructions can be issued to sellers regarding change in MRP. The price of edible oil has come down in the international market. The government wants that the full benefit of this deficiency should reach the general public. That is why this meeting is being organized.

The government believes that a further fall of 10-15 percent is possible in the price of edible oil. The festival season is also approaching. Inflation is also at its peak. In such a situation, if the price drops by 10-15 percent, then there will be a lot of relief for the public. Let us inform that there was a change in the price of edible oil in the past and its price was reduced by Rs 10-15 per liter.

Expect the price to drop further in the coming days

The government says that some countries had banned the export of edible oil, due to which their stock became very high. That stock has come together in the market, due to which there is a fall in the price. Apart from this, the arrival in the domestic market is also near. Very soon a fresh crop of soybean will come in the market, due to which the price of soybean oil will come down. In such a situation, the price will fall further in the coming days.

Rate has already become cheaper by up to Rs 15 per liter

In the month of June, the government cut the import duty on the commodity, after which there was a fall in the price of edible oil. FMCG company Adani Wilmar had cut the price of cooking oil by Rs 10 per liter. Earlier, Mother Dairy had cut the prices of its edible oil by up to Rs 15 per liter. Mother Dairy sells its edible oils under the brand Dhara Edible Oils. Mother Dairy has reduced the price of one liter Dhara Mustard Oil (Poly Pack) from Rs 208 to Rs 193 per litre.

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India imports 70 thousand crores every year

India has not yet become self-sufficient in edible oils. We import edible oil worth about 70 thousand crores every year from Indonesia, Malaysia, Russia, Ukraine and Argentina etc. In which the largest part is of palm oil. There is a gap of about 55 to 60 percent in the demand and supply of edible oils. The demand for edible oils in India is around 250 lakh tonnes, while the production is only 110 to 112 lakh tonnes. Therefore, the price of edible oil here is more affected than imports.

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