Good News: Government's Mega Plan, Now Edible Oil Will Be Cheap! Price of mustard oil reduced

New Delhi: Food Minister Piyush Goyal said that the prices of domestic edible oil have not increased as much as international rates. Piyush Goyal told the Parliament that there is no proportionate increase in the wholesale and retail prices in the domestic market compared to the international prices of edible oil.

 In a written reply to a question asked in the Lok Sabha, the Union Food Minister said that the price of edible oil is increasing globally and domestic production is insufficient due to which the domestic price of edible oil has increased. However, there has been no increase in domestic wholesale and retail prices of edible oils as compared to international prices. 
 
He said that domestic production of edible oil is not sufficient to meet the demand in the country and between the demand and production of edible oils The difference between production and demand is met through imports.

Know what is the government's plan?

On being asked about the efforts made by the government towards controlling the prices, the Union Minister said that keeping in mind the interests of farmers, industry and consumers, the prices, availability and fees of edible oil and other commodities , an inter-ministerial committee on agricultural products has been set up under the chairmanship of the Food Secretary to closely monitor the structure. He informed that efforts are being made to reduce dependence on import of edible oils by increasing the production and productivity of oilseeds in the country.

Know the price of Mustard Oil

Sources in the market said that the cost of importing soybean refined, including today's import duty price and GST payment, is Rs 145 a kg, while mustard sits at Rs 125 a kg. The price of palmolein is more than mustard. On the other hand, there is also a festive demand for mustard in the country, but the arrival of new crops in the mandis brought a relief in its price. The prices of the remaining oils also came under pressure due to the low price of mustard, which led to a decline. The price of soybean oil (DOC) as well as large export demand of soyabean seeds showed an improvement in prices.

The wholesale prices in the market are as follows-

On Wednesday, 
Mustard oilseed sold for- Rs 5,850 - Rs 5,900 (42 percent condition price) .
Peanut Dana - Rs 6,255 - Rs 6,320, 
Peanut Oil Mill Delivery (Gujarat) - Rs 15,320. Peanut Solvent Refined Oil Rs 2,470 - Rs 2,530 per tin, 
Mustard Oil Dadri - Rs 12,500 per quintal, 
Mustard Pakki Ghani - Rs 2,025 -2,115 per Tin, Mustard Raw Ghani - Rs 2,155 - Rs 2,270 per tin, Soybean Oil Mill Delivery Delhi - Sold for Rs 13,800. At the same time,
Palmoline RBD, Delhi - Rs 13,250 and
Palmoline Kandla sold 12,250 (without GST).
Soyabean grain remained at Rs 5,875 - 5,925.