‘Edible oil prices eased ₹8-10 a kg in 30 days’
The Hindu
Industry group sees further decline
Edible oil prices declined by ₹8-10 per kg in last one month mainly on the back of lower import duties and may fall by ₹3-4 per kg in coming months on higher domestic output of oilseeds and bearish trend in global markets, according to industry body SEA.
“The last few months have been harrowing for the Indian edible oil consumer largely on account of very high international prices of all oils viz. palm, soya and sunflower,” Solvent Extractors’ Association of India (SEA) president Atul Chaturvedi said.
SEA had advised its members before Diwali to reduce prices to the maximum extent possible, he said, adding that the Centre also reduced import duties on edible oils.
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