Edible oil prices: Against the backdrop of falling global prices, the government on Wednesday directed edible oil producers to reduce the maximum retail price (MRP) of imported cooking oil by Rs 10 per liter within a week and maintain the same MRP of the same brand. Oil across the country. With India importing more than 60 per cent of its edible oil needs, retail prices have come under pressure in the last few months due to signals from global markets. However, it has improved, resulting in a fall in global prices.
Edible oil producers had slashed rates by Rs 10-15 per liter last month and earlier also reduced MRP as per global market signals. Noting the further fall in global prices, Food Secretary Sudhanshu Pandey convened a meeting of all edible oil associations and major producers to discuss the current trend and bring global prices to consumers by lowering the MRP.
“We made a detailed presentation and told them that global prices have fallen by 10 per cent in the last one week. This should be communicated to the customers. We have asked them to reduce the MRP, ”Pandey told PTI after the meeting.
Major edible oil producers have promised to reduce MRP on all imported edible oils like palm oil, soybean and sunflower oil by Rs 10 per liter by next week, he said, adding that once the prices of these edible oils come down, so will the prices of other cooking oils.
In addition, the secretary asked the producers to maintain a uniform MRP of the same brand of cooking oil across the country as there is currently a difference of Rs 3-5 per liter in different zones.
“Currently, there is a difference of Rs 3-5 per liter in the MRP of the same brand sold in different zones. When transportation and other costs are already components in the MRP, there should be no difference in the MRP, ”he said, and the companies have agreed on this point.
The third issue discussed at the meeting was the growing consumer complaints about unfair trade practices of edible oil brands.
The secretary said some companies are writing on the package that the edible oil is packaged at a temperature of 15 degrees Celsius. At this temperature the oil expands and the weight is reduced.
Ideally, they should be packed at a temperature of 30 degrees Celsius. 15 से C oil expands and weight loss occurs. But the reduced weight is not printed on the package, it is unfair trade practice.
For example, companies are printing that 910 grams of edible oil is packaged at 15 degrees Celsius, but the actual weight will be as low as 900 grams, he explained.
The consumer affairs ministry has also seized the case, he added.
On July 6, the all-India average retail price of palm oil was Rs 144.16 per kg, sunflower oil Rs 185.77 per kg, soybean oil Rs 185.77 per kg, mustard oil Rs 177.37 per kg and peanut oil Rs 187.93 per kg, according to the Ministry of Consumer Affairs.
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