Power Breakfast: Govt begins inspection drive to curb hoarding of edible oils

The government said it has initiated an inspection drive to curb hoarding and black marketing of edible oils and oilseeds to arrest rising retail prices and boost their availability. The average retail price of sunflower oil is ruling as high as Rs 184.58 per kg as on April 4 compared to the rate of Rs 161.71 kg on January 1 this year. The average groundnut oil prices were ruling flat at Rs 181 kg on April 4, but mustard oil saw an increase of Rs 2.78 per kg to hit Rs 188.54 in the said period. Similarly, the average retail price of soyabean oil has increased to Rs 162.13 per kg from Rs 148.59 per kg, while that of palm oil has risen to Rs 151.59 per kg from Rs 128.28 per kg in the said period.