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HomeNationalEdible Oil Became Cheaper By Rs 20 Per KG In Major Retail Markets

Edible Oil Became Cheaper By Rs 20 Per KG In Major Retail Markets

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Edible Oil Price Today In India: Coronavirus, on the one hand, and inflation, on the other hand, is not taking the name of reducing the difficulties of the commoner. While on the one hand, the prices of all the essential goods are increasing, on the other hand, the coronavirus has once again put an eye on the business of the people.

Everything has become expensive from soap to detergent and from petrol-diesel to LPG. However, such news has also come in the meantime, which will serve as a great relief to you in this inflation era. Yes, there is a significant fall in the retail prices of edible oil. That is, edible oil has become cheaper than before.

Edible Oil Became Cheaper from Rs 5 to Rs 20

Regarding edible oil prices, the central government said on Tuesday that the retail prices of edible oils across the country are higher in line with the global market than the same period a year ago. Still, they have been showing a decline since October 2021.

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According to data from 167 price collection centres, retail prices of edible oils have declined by Rs 5 to Rs 20 per kg in major retail markets across the country.

According to consumer affairs ministry data, the all-India average retail price of groundnut oil on Tuesday was Rs 180 per kg, mustard oil Rs 184.59 per kg, soya oil Rs 148.85 per kg, sunflower oil Rs 162.4 per kg and palm oil. 128.5 per kg.

The data shows that compared to the prevailing prices on October 1, 2021, the retail prices of groundnut and mustard oil have declined by Rs 1.50 to Rs 3 per kg, while the prices of soya and sunflower oil are now 7-8 per kg. Rs per kg has come down.

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According to the ministry, major edible oil companies, including Adani Wilmar and Ruchi Industries, have cut prices by Rs 15 to 20 per litre.

Other companies that have reduced prices of edible oils are Gemini Edibles & Fats India, Hyderabad, Modi Naturals, Delhi, Gokul Re-Foil & Solvent, Vijay Solvex, Gokul Agro Resources and NK Proteins.

After All, How Did Cooking Oil Become Cheaper in the Country?

Two main reasons are being given for this decrease in edible oil prices. The first reason is that the government has cut import duty. Apart from this, the second reason is that oil hoarding has also been curbed. Due to these government decisions, while the retail prices of edible oil have come down, on the other hand, due to the cost of oil, the general public has also got a lot of relief.

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You will be surprised to know that India is one of the largest edible oil-importing countries in the world. In India, 55 to 60 per cent of the total consumption of edible oil is imported. The government’s effort is to increase the production of edible oil in the country itself so that our dependence on other countries can be reduced.

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Akash Kumar Mishra
Akash Kumar Mishra is the CO-Editor at Spot News 18. He is very passionate about His Work and Loves to Write on Technology Topics.

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