Edible oil prices goes down

NEW DELHI: On the eve of Diwali, the prices of major cooking oil went down resulting in a decrease of ₹5 – ₹10 a litre in Delhi. Other major cities saw a rapid fall of prices like ₹18 a litre fall in palm oil in Aligarh and the ₹20 a litre fall in sunflower prices in Meghalaya.

Stabilisation of global oil prices, duty cuts and holding stocks were the reason behind the fall of prices.

Food Secretary Sudhanshu Pandey said, “International edible oil prices remain high, but have stabilised over the past week. Interventions by the Central Government along with the State Governments’ proactive involvement and the cut in wholesale prices by major private players have led to retail prices cooling down much more than the international market.”

He added, there is no plan of extending Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) beyond November 30. It is a free ration scheme rolled out in March 2020 as a COVID -19 relief package. The 80 crore beneficiaries of the National Food Security Act, who are already eligible for subsidised grain, get an additional five kg of free food grains from this scheme.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s