Price of essential commodities reported decline in October this year as compared to previous years: Govt
The government has said that the price of essential commodities, especially edible oils have reported a decline in October this year as compared to previous years. The decline in prices is due to a series of proactive and pre-emptive measures taken by the Government to augment domestic availability and stabilize prices of essential food commodities.
In a statement, the Ministry of Consumer Affairs, Food and Public Distribution said that all India Average Domestic Retail prices of Refined Sunflower Oil had decreased from 181 to 170 rupees per kilogram and Mustard Oil Prices declined from 173 to 170 rupees per kilogram in last three months. While Vanaspati prices decreased from 154 to 146 rupees per kilogram and for Refined Soyabean, it reduced from 157 to 154 rupees per kilogram.
The Ministry added that the reduction in oil prices came as a result of Central Government’s decision to reduce the import duty on edible oils. It said, the industry has been asked to ensure that the complete benefit of the reduced duty is passed on to the consumers invariably. The Ministry further stated that the Government’s timely intervention in curbing the mounting export of Wheat and Sugar through export regulations has insulated the prices of these commodities from increase in contrast to the prices prevailing in the global market.
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By News On Air