Govt Asks Companies To Cut Prices Of Edible Oils By Up To Rs 10/Litre Within A Week
Manufacturers have been asked to reduce the retail prices of cooking oils amid a fall in global prices.
Food Secretary Sudhanshu Pandey on Wednesday said the government had directed companies to cut the prices of edible oils by up to Rs 10 per litre within a week, PTI reported. The government has also asked edible oil manufacturers to maintain a uniform MRP of the same brand of oil across the country.
The development comes after the Food Ministry held a meeting with edible oil industry bodies and manufacturers to discuss reduction in the retail prices amid a fall in global prices.
"We made a detailed presentation and told them that global prices have declined by 10 per cent in last one week alone. This should be passed on to consumers. We have asked them to reduce the MRP," Pandey told PTI after the meeting.
Global prices have fallen by $300-450 per tonne of different edible oils in the last one month. Last month, many edible oil firms cut their prices by Rs 10-15 per litre.
India imports more than 60 per cent of its edible oil requirement.
According to the Consumer Affairs Ministry data, the average retail price of palm oil was Rs 144.16 per kg, sunflower oil at Rs 185.77 per kg, soyabean oil at Rs 185.77 per kg, mustard oil at Rs 177.37 per kg and groundnut oil at Rs 187.93 per kg on July 6.
Major manufacturers have promised to reduce the MRP of edible oils like palm oil, soyabean and sunflower oil by up to Rs 10 per litre by next week. "Once the prices of these edible oils are reduced, the rates of other cooking oils will also get reduced," Pandey said.
The Food Ministry has also asked the manufacturers to maintain a uniform MRP of the same brands of cooking oils across the country.
"At present, there is Rs 3-5 per litre difference in MRP of same brands sold in different zones. When transportation and other costs are already factored in the MRP, there should not be difference in MRP," he said.
Pandey also noted rising consumer complaints of less quantity of edible oils being sold in packets compared to quantity displayed. The secretary said some companies were writing on the package that edible oil is packed at 15 degrees celsius.
"Ideally, they should pack at 30 degrees celsius. By packing at 15 degrees celsius the oil expands and weight gets reduced. But the reduced weight is not printed on the package, which is unfair trade practice," PTI quoted Pandey as saying.
"For instance, the companies are printing stating that edible of 910 gram is packed at 15 degrees celsius, but the actual weight would be less at 900 gram," he further said.
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