Amid high global prices, Food Secretary Sudhanshu Pandey has said that edible oil prices in India are consistently coming down after the government intervention, and further drop is expected with the arrival of a better mustard crop from the rabi season. In case of other essential food commodities, he said retail prices of rice and wheat are ‘very stable’, while prices of pulses have stabilized. Retail prices of vegetables, especially onion, potato and tomato have also come down.
Pandey said ‘The prospective predictions of the crop of all the major essential vegetables which are consumed in every household indicates that the situation is going to be stable. And we don’t expect any major hike in prices of these vegetables’. In the case of edible oils, he said when the country is dependent for almost 60 per cent of its edible oil requirement on imports, then the domestic prices naturally are influenced by the international prices.
The Secretary said that the government reduced import duty to almost zero in case of edible oils, and it showed a very significant reduction in the (retail) prices. There has been a reduction in retail edible oil prices in the range of 15 to 20 per cent after the government held several meetings with the stakeholders and motivated them to have realistic MRP and pass on the import duty reduction to consumers.
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