Wholesale prices of edible oil are showing declining trend in India

Published 2021년 9월 17일

Tridge summary

The Indian government has reported a decrease in the wholesale prices of eight types of edible oils after implementing measures to increase domestic supply and reduce hoarding. The largest decrease was seen in palm oil, with a 2.50% drop, followed by sesame and coconut oil with a 2.08% and 1.72% decrease respectively. Despite these price reductions, the wholesale rates remain higher than the previous year. The government has also reduced import duties on edible oils and has asked wholesalers, millers, and refiners to declare their stock online to control prices and ensure availability.

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Original content

The Centre on Friday said prices of eight types of edible oils in the wholesale markets across the country are showing a declining trend over the last week after it took several measures to boost domestic supply and curb hoarding.The wholesale prices of groundnut, mustard oil, vanaspati, sunflower oil, palm oil, coconut oil and sesame oil declined during the week ended September 14, it said in a statement.According to Consumer Affairs Ministry, the wholesale price of palm oil fell 2.50 per cent to Rs 12,349 per tonne as on September 14 from Rs 12,666 per tonne a week ago.While wholesale price of sesame oil slipped 2.08 per cent to Rs 23,500 per tonne, coconut oil eased by 1.72 per cent to Rs 17,100 per tonne.Similarly, wholesale rate of sunflower oil fell 1.30 per cent to Rs 15,965 per tonne as on September 14 from Rs 16,176 per tonne a week ago.Wholesale rate of groundnut oil dropped 1.38 per cent to Rs 16,839 per tonne, while that of mustard oil and vanaspati declined by less ...

Source: Financialexpress