The Department of Food and Public Distribution, under the affairs of consumers, the Ministry of Food and Public Distribution, has also suggested that prices to distributors by producers and refiners need to be reduced immediately so that the price reduction is not diluted in any way.
During the meeting on Wednesday, it was also impressed that every time the price reduction to the distributor was carried out by manufacturing/drawer, the benefits must be forwarded to consumers by the industry and the department can be approved regularly. “Some companies that have not reduced their prices and their MRP are higher than other brands are also advised to reduce their prices,” said an official.
During the meeting, it was observed that there was a trend of decreasing eaten -eating international oil prices, which was a very positive picture in the edible oil scenario and, therefore, the domestic -eating oil industry needs to ensure that prices in the domestic market also dropped with Completion, and benefits must be continued quickly to consumers.Other problems such as collection of price data, the order of eaten -eaten oil control and eating oil packaging are also discussed at this meeting.
In May 2022, the department had held a meeting with a prominent -eating oil association and according to the source, MRP from Sunflower Oil 1 Liter Pack was reduced to RS 210 from RS 220 and Soyabean and ‘Kachi Ghani’ 205 to RS 195.Reduction of oil prices comes after the central government reduces eaten oil on oil which makes it cheaper. This industry is advised to ensure that the complete benefits of reducing tasks are forwarded to consumers.
The price of oil that can be eaten in the international market witnesses a dramatic decline, however, the situation in the domestic market is slightly different due to a gradual price decline.
The government stepped in and the meeting was held by the Department of Food and Public Distribution with prominent industrial representatives including Seai, IVPA and Sopa to discuss the reduction in retail price of cooking oil amid global price reduction.The industry says that the global price of various vegetable oils has dropped $ 300-450 per ton in the past month, but it takes time to reflect on retail markets and retail prices are expected to drop in the coming days.
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