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Thursday, 25 March 2021

The good news for housewives is the reduction in rising oil prices

The good news for housewives is the reduction in rising oil prices

Food Minister Piyush Goyal recently issued a statement saying that the price of edible oil has not increased like every year.

  • Falling oil prices
  • Prices including mustard oil fell
  • Government will control prices

Piyush Goyal told Parliament that there is no increase in wholesale and retail prices in the domestic market compared to the international prices of edible oil. In a written reply to a question in the Lok Sabha, the Union Food Minister said that edible oil prices were rising globally and domestic production was inadequate. Due to which there has been an increase in domestic prices.

What is the government's plan?

When asked about the efforts being made by the government to control prices, the Union Minister said that a new committee for prices, availability and production of edible oil and other commodities keeping in mind the interests of the agricultural industry and the customer Has been formed. . He said that efforts have been made to reduce dependence on import of edible oils by increasing the production and productivity of oilseeds in the country.

Mustard oil prices

According to market sources, the cost of imported soybean refined including today's import duty and GST is Rs 145 per kg, while mustard is Rs 125 per kg. Palmolin costs more than mustard. There is a demand for mustard in other countries as well, but rising oil revenues also pressurized the remaining oil prices and reduced them.

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The wholesale price in a the market is as follows

  • The price of mustard oilseed on Wednesday was Rs 5850-5900.
  • Peanut price is Rs.6255-6320
  • Peanut oil price Rs 15320
  • Groundnut oil refined oil Rs 2470-2530 per tin