Centre directs leading Edible Oil Associations to reduce prices by Rs 15 with immediate effect

Centre has directed leading edible oil associations to reduce prices of edible oils by Rs 15 in the MRP with immediate effect. It has also advised that the price to distributors by the manufacturers and refiners also needs to be reduced immediately so that the price drop is not diluted in any way.

The Department of Food and Public Distribution gave these directions to edible oil associations in a meeting held on July 6, 2022.

The Consumer Affairs Ministry said, the benefit of price reduction should be passed on to the consumers expeditiously. It said, some companies which have not reduced their prices and their MRP is higher than other brands have also been advised to reduce the prices.

During the meeting, it was discussed that the international prices of imported edible oils are on a downward trend which is a very positive picture in the edible oil scenario.