The Department of Food and Public Distribution in a meeting on July 6th 2022 has directed leading Edible Oil Associations to ensure reduction in the MRP of edible oils by Rs. 15/- with immediate effect and it also advised that the price to distributors by the manufacturers and refiners also needs to be reduced immediately so that the price drop is not diluted in any way.
Whenever a reduction in price to distributors is made by the manufactures/refiners, the benefit should be passed on to the consumers by the industry and the Department may be kept informed on regular basis. Some companies which have not reduced their prices and their MRP is higher than other brands have also been advised to reduce their prices
The reduction in oil prices came in the wake of Central Government reducing the import duty on edible oils making them cheaper. The industry was advised to ensure that the complete benefit of the reduced duty is passed on to the consumers invariably.
Further the Department is continuously monitoring the prices and availability situation of edible oil in the country and it is imperative that the benefit of reduced duty structure on edible oils and the continuous significant drop in prices at the international market be immediately passed on to the end consumers without fail.
