Edible Oil prices to start cooling off by October: Food Secretary

In a move to check the unfair practices and to bring transparency in the availability of edible oils, the Secretary of Food and Public Distribution today met with state officials.  

The move is expected to bring relief to consumers on prices of edible oil front as the new stock disclosure norms and better monitoring would deter unfair practices and hoarding etc.

In this regard, the Centre has asked States to take disclosures of stock of edible oilseeds and oils with the millers and stockists to check the unfair practices of any kind and to bring transparency in the availability of edible oils.

In an interaction, the Secretary said that the production of oilseeds is expected to increase in the coming Rabi season. This is also expected to bring down the prices of edible oils from October onwards. He also said that as of now there is no need for extension of import duty relaxations.

Stockists, Millers are now expected to disclose the stock of edible oilseeds and oils and submit the data on a portal for transparency and better monitoring.

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Stockists and Millers would also need to display the prices of edible oil at the premises.