- Decline up to almost 20% in certain categories
- Government is working on a series of mid- and long-term measures to resolve the issue for a lasting solution
- Prices of edible oil dependent on 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
The price of Palm Oil was Rs 142 per kg on May 7 ‘21 now it came down to Rs 115 per kg, a drop of 19%.
The price of Sunflower Oil was Rs 188 per kg on May 5 ‘21 now it came down to Rs 157 per kg, a drop of 16%.
The price of Soya Oil was Rs 162 per kg on May 20 ‘21 now it came down to Rs 138 per kg in Mumbai, a drop of 15%.
In the case of Mustard Oil, the price was Rs 175 per kg on May 16 ‘21 now it came down to Rs 157 per kg, a drop of nearly 10%.
While the price of Groundnut oil was Rs 190 per kg on May 14 ‘21 now it came down to Rs 174 per kg, a drop of 8%.
The price of Vanaspati was Rs 154 per kg on May 2 ‘21 now it came down to Rs 141 per kg, a drop of 8%.
It may be noted that Prices of edible oil prices are dependent on a complex set of factors which also include international prices,domestic production.As the gap between domestic consumption and production is high, India has to import a significant amount of edible oil. Government is working on a series of mid- and long-term measures to resolve the issue on a permanent basis.
The measures will contribute towards making India AtmaNirbhar in Edible Oils, which is key ingredient in cooking of food in India.