Scope for reducing edible oil prices by Rs 20 per litre, says government; directs companies to pass on benefits of reduced prices to people

The government has directed edible oil companies and manufacturers to make changes in MRP.

In a meeting on edible oil, held today, the government has asked companies to ensure that the reduction in prices in international markets also reflect in the maximum retail price (MRP) of edible oil in the country.

This is with a view that the benefits of the reduced prices reach common people.

As per the government estimates, prices of edible oil can be reduced by up to Rs 20 per litre.

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The meeting was organised by Ministry of Consumer Affairs, Food and Public Distribution and was chaired by the chaired by F&PD Secretary Sudhanshu Pandey. 

Representatives from edible oil manufacturing companies were present in the meeting to discuss the measures to reduce edible oil prices further.

Amid the fall in global prices of edible oil, the edible oil prices in the domestic market will also decrease.

A few oil companies and manufacturers have agreed to reduce edible oil prices further.

Edible oil companies have given assurance to take immediate action regarding the same.

Government has asked edible oil companies to ensure the changed packaging with revised rates.

Companies have asked for some time to ensure packaging with new rates.