Union food secretary Sudhanshu Pandey said the “worst is over” while highlighting the improved availability of edible oil in the country due to measures, including import duty cut and declaration of stocks by the stakeholders. However, mustard oil prices are still a concern. Pandey said even as the branded oil makers have revised the rates for new stock.
Officials said the domestic edible oil prices have soared in tandem with the global prices which shot up due to reduced availability of edible oils following diversion for biofuel in Indonesia, Brazil and other countries. They said the prices have started moderating and this trend is likely to continue.
On mustard oil, Pandey said, “We have not seen a significant reduction in prices. But the steps taken by the government, including import duty rationalisation, will effect mustard oil prices too.”
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