Edible Oil Price Fall Know Which Type Edible Oil Price Down

Edible Oil Rates: Amid rising inflation, edible oil has become cheaper than before. The biggest reason for this, the decline in the market of Malaysia continues. At the same time, due to the good position of rupee against dollar, the prices of imported oil are getting cheaper. Due to this decline, the oil-oilseeds market of Delhi has also been affected.

The country has imported a large amount of edible oils, which include oils like palm, soybean, refined and groundnut. Apart from this, the country’s mustard stock is also high. In such a situation, the price of oil available in the market has come down. There has been a change in the price of soybean to palm oil.

60 percent of edible oil is being imported

According to PTI language sources, about 60 percent of oil is being imported in the country from abroad. The import of edible oils in the country till November in 2021 was about one crore 31.3 lakh tonnes, which has increased to about one crore 40.3 lakh crore tonnes by November 2022. On the other hand, the production of oil and oilseeds is increasing in India.

Imports expected to increase

It is estimated that imports may increase in this financial year, as its prices continue to fall. At the same time, there is a possibility of abundant stock of oil and oilseeds at the domestic level. However, despite this, there has been no reduction in the prices of oil and oilseeds in the country.

Not getting the benefit of decline

Despite the scarcity of edible oils and abundant stock of oil and oilseeds, people are not getting the benefit of reduction in the price of this oil. Customers still have to pay the same price as before for retail purchase of these oils. On several occasions, the government has asked edible oil companies to pass on the benefit of cheap edible oil prices to the common people.

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Retail Inflation Data: Retail inflation came down to 5.72 percent in the month of December, relief due to reduction in prices of food items