Solvent Extractors Association of India feels prices of edible oils to remain high until April-May 2021

Prices of edible oil have risen by 40-50 per cent across the country in the/ last five months and 15 per cent in the past one month. Prices are expected to remain on the higher side until March, edible oil industry experts feel. Atul Chaturvedi, president, Solvent Extractors Association of India (SEA), said the association has requested the government to freeze the tariff rate for the next six months so that the effective rate of the import duty goes down. The government had reduced the import duty on palm oil by 10 per cent in November to control rising prices. However, it did not help as exporting countries increased prices as well as export duties. The association has also urged the government to subsidise the sale of edible oil through the public distribution system, as prices are expected to stay firm till April-May 2021. The year-on-year increase in wholesale price is 40 per cent in mustard oil, 52 per cent in sunflower oil, 34 per cent in refined soyabean oil, 33 per cent ...