Before Diwali- Edible Oil Price Drops: There is relief news for the general public ahead of Diwali (Before Diwali). The prices of edible oil have been reduced from Rs 4 to 7 per liter. Adani Wilmar and Ruchi Soya Industries have lowered wholesale prices for edible oil to provide relief to the general public. Industry body SEA said on Tuesday that other companies would also take action on the matter soon. Before Diwali….
These companies have also reduced prices
SEA stated that Gemini Edibles and Fats India Pvt Ltd (Hyderabad), Modi Naturals (Delhi), Gokul Refoils and Solvent Ltd (Siddhapur), Vijay Solvex Ltd (Alwar), Gokul Agro Resources Ltd and NK Proteins Pvt. Ltd. (Ahmedabad) are the other companies to cut wholesale tariffs for edible oils.
There was a call to cut on Monday
SEA had a meeting with its members and said oil prices should be reduced during the holiday season to relieve the general public of inflation. SEA members appealed to these companies to lower wholesale prices. SEA President Atul Chaturvedi said in a statement: “The response from the industry is very encouraging.”
4,000 to 7,000 per cut ton
SEA said it had already cut wholesale prices by Rs 4,000-7,000 per tonne (Rs 4-7,000 per liter) and that the rest of the companies would also cut prices for edible oil. has been. Chaturvedi said the national soybean and peanut harvest is resuming this year, while the first reports of mustard planting are very encouraging and a bountiful rapeseed harvest is expected.
The offer has improved
Apart from this, the global edible oil supply situation is improving, which will likely lead to further decline in international prices. This could lead to a further reduction in house prices during the coming wedding season. Domestic prices for edible oils have increased in line with the international market. International Market – After increased use of oilseeds for biofuels in Indonesia, Brazil and other countries, the prices of these oils have increased due to the reduced availability of edible oils for catering.
Also has the effect of world prices
tell you, India is accomplished through the import requirement of over 60 percent edible oils. Any increase in world prices has a direct impact on local prices. To curb prices, the government took several other measures during the second week of October, including a drastic reduction in import duties, which the SEA said helped control prices.
