New Delhi: There is good news for Indian households. Edible oils will soon be cheaper.
The Department of Food and Public Distribution (DFPD) directed leading Edible Oil Associations to ensure reduction in the MRP by Rs 15 with immediate effect.
The Centre also advised that the price to distributors charged by manufacturers and refiners also needs to be reduced immediately so that the price drop is not diluted in any way.
It was stressed at a meeting held on July 6 that whenever there is a price reduction to distributors by manufactures/refiners, the benefit should be passed on to consumers.
Some companies which have not reduced their price and their MRP is higher than other brands have been advised to cut prices.
The DFPD has to be kept informed about prices on a regular basis.
The Centre made the point that global prices of imported edible oils are on a downward trend, hence the domestic edible oil industry has to ensure that prices in the domestic market also drop commensurately.
Russia’s invasion of Ukraine was a factor in rising prices of edible oils.