Government on Friday convened 2nd meeting with leading Oil producers Association to discuss further cut in edible oil prices amidst fall in global prices.
Secretary, Department of Food and Public Distribution Sanjeev Chopra chaired the meeting in New Delhi. During the meeting, the industry informed that the global prices of different edible oils have fallen by 150 to 200 dollar per tonne in the last two months. The industry informed that they have reduced the MRP and will further reduce shortly.
Earlier the Department had also convened a meeting with the leading edible oil associations and over a month the MRP of Refined Sunflower Oils and Refined Soybean Oil of some major brands have decreased by five to fifteen rupees per litre. The department said, a similar decrease has been done in case of Mustard oil and other edible oils as well. The reduction in oil prices came in the wake of reduction of international prices and reduced import duty on edible oils making them cheaper.