Highlights

  • India imports about 55% of its annual edible oil consumption
  • Edible oil to drop down by Rs 10-12/litre within a week

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Relief from burning high prices, edible oil prices to get cheaper

The central government told the companies to implement the change in prices within a week

Households may see some reprieve as the central govt has asked edible oil manufacturers to cut the maximum retail price (MRP) of imported cooking oils by upto Rs 10-15 per litre.

The government has told the companies to implement the change in prices within a week.

Also read/watch| After wheat, India puts restrictions on export wheat products

This move came after the prices of edible oils reduced significantly in the international market in the last few days.

India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

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