Relief to the general public! Before Diwali, cooking oil will be so cheap, check mustard oil rates
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Edible Oil Price Down: Before Diwali, the general public can get some relief on the inflation front. Where on one hand the rates of Petrol-Diesel and Gas Cylinder Price are increasing. On the other hand, the prices of edible oil may come down. Industry body SEA on Monday said its members have decided to further reduce the wholesale prices of edible oils by Rs 3-5 per kg during this festive season to provide relief to consumers.
Palm oil prices fell by 21.5%
According to consumer affairs ministry data, the average retail price of palm oil has already declined 21.59 per cent to Rs 132.98 per kg on October 31, from Rs 169.6 per kg on October 1, due to government efforts.
Know what is the price of mustard and sunflower oil?
Average retail price of soya oil has come down from Rs 155.65 per kg to Rs 153 per kg in the same period. However, ministry data shows that the average retail price of groundnut oil, mustard oil and sunflower oil remained firm at Rs 181.97 per kg, Rs 184.99 per kg and Rs 168 per kg respectively as on October 31.
Oil will be cheaper by Rs 5000 per ton
In order to provide further relief to the consumers, Solvent Extractors Association of India (SEA) said, “SEA members have decided to reduce the prices of edible oils by Rs 3,000 to Rs 5,000 per tonne keeping in view the Diwali festivities. has done.
Refined 11 percent cheaper
SEA said the wholesale prices of palmolein, refined soya and refined sunflower have come down by 7-11 per cent between October 10 and October 30, following the reduction in duty. “Although the international prices of all these edible oils have increased significantly, the reduction in duty by the government has reduced the impact on consumers,” the SEA said.
What is the condition of oil in other countries?
Domestic edible oil prices have also risen in line with the rise in the international market due to low availability of edible oils following the shift to biofuels in Indonesia, Brazil and other countries. India meets more than 60 percent of its edible oil demand through imports. Any increase in global prices has a direct impact on local prices.
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