The Government on Wednesday said edible oil prices have started falling in the past one month, and the quantum of decline is nearly 20 per cent in some cases. Stating that India imports a significant quantity of edible oils to meet domestic demand, the Centre said it is working on a “series of mid- and long-term measures” to make the country self-sufficient.
“Edible oil prices in India are showing a declining trend across a wide array of oils.
As per data from the Department of Consumer Affairs, over the past month, the prices of edible oils are now coming down,” an official statement said.
In some cases, the decline is as much as nearly 20 per cent, as shown in prices in Mumbai, it added.
Citing examples, the government said the price of palm oil was Rs 142 per kg on May 7 and now, it has come down to Rs 115 per kg, a drop of 19 per cent. Similarly, the price of sunflower oil has dropped 16 per cent to 157 per kg, from Rs 188 per kg on May 5.
