Less than global trend in domestic edible oil prices: Govt

New Delhi: The government has claimed that the import of inflation has been “insulated” in the edible oil sector due to a series of interventions in the last one year.
It has seen the international prices of major edible oils like soybean, sunflower and palmolin rise by more than 45% in the last one year, while their Local wholesale prices Maximum 16% increase.
Giving details of prices, this Ministry of Food International soybean oil prices have risen 47% in the last one year – from $ 1,045 per tonne to $ 1,540 -.
In the case of domestic wholesale prices, it rose 12.4% to Rs. 14,112 per quintal to Rs. 15,858.
Similarly, international prices of sunflower oil increased by 53.4% ​​between last year and June this year, while domestic prices rose by 11.8%.
In the case of refined palmolin oil, international prices have risen by 45% while domestic wholesale prices have risen by 16%.
The prices of all major edible oils have come down as compared to last month and last week, the food ministry said. “We have to keep in mind that 65% of our domestic edible oil requirement is met through imports.
So, if the government had not taken adequate measures, local prices would have gone up, ”an official said.
Meanwhile, the Solvent Extractors Association of India, an organization of the edible oil industry, has urged the government to use the Minimum Support Price (MSP) for both short-supply crops like oilseeds and pulses and crops that promote wheat and wheat. Rice which is plentiful.

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