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EDIBLE OIL MAKERS ASKED BY CENTRE TO KEEP RETAIL PRICES IN CHECK
The Business Guardian
|September 18, 2024
The government raised Basic Customs Duty on refined oils to support domestic farmers, effective October 2024, increasing it to 35.75%.
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A meeting was held between the secretary Department of Food and Public Distribution and representatives of various edible oil industry bodies, wherein they discussed the pricing strategy.
Solvent Extraction Association of India (SEAI), Indian Vegetable Oil Producers' Association (IVPA) and Soyabean Oil Producers Association (SOPA) were part of the meeting.
The associations were advised to ensure that the MRP of each oil is maintained till the availability of edible oil stocks imported at low duty and take up the issue with their members immediately.
Earlier also, the MRP of edible oils such as sunflower oil, soyabean oil and mustard oil were reduced by the industry, as per the request from the government.
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