The Ministry of Food and Consumer Affairs on Wednesday said that edible oil prices are showing a declining trend among various types of oils.
As per data from the Department of Consumer Affairs (DCA), the prices of edible oils have now come down in the past one month, and in some cases, the decline has been as much as 20 percent, as shown by the prices in Mumbai.
It said the price of palm oil was Rs 142 per kg on May 7 but has come down to Rs 115 per kg, a fall of 19 percent and the price of sunflower oil, which was Rs 188 per kg on May 5, has now come down. . 157 per kg, a fall of 16 percent.
The price of soya oil was Rs 162 per kg on May 20, but in Mumbai it has come down by 15 per cent to Rs 138 per kg, while mustard oil was Rs 175 per kg on May 16, which has now come down to Rs 157 per kg. has gone. , a fall of almost 10 per cent on May 14, and groundnut oil was Rs 190 per kg, which has now declined by 8 percent to Rs 174 per kg.
Vanaspati was Rs 154 per kg on May 2 and now has come down to Rs 141 per kg, a drop of 8 percent.
The Ministry said the prices of edible oil are dependent on a complex set of factors which also include international prices, and domestic production. As the gap between domestic consumption and production is high, India has to import a significant amount of edible oil, it said, adding that the government is working on a series of mid-and long-term measures to resolve the issue on a permanent basis.
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