BIG Relief! Edible oil prices likely to go down soon - Know complete details here

Good news for people worried about the rising food-related expenses! The prices of edible oil are likely to fall. Sudhanshu Pandey, Secretary at Department of Food and Public Distribution in a press conference has said that the price of edible oil will likely come down in days to come

Zee Business’ correspondent Chetan Bhutani brings a detailed report on this

Good news for people worried about the rising food-related expenses! The prices of edible oil are likely to fall. Sudhanshu Pandey, Secretary at Department of Food and Public Distribution in a press conference has said that the price of edible oil will likely come down in days to come.

The Secretary said that the government is keeping an eye on the rising price of edible oil and the government is giving clearances to the edible oil stuck at various ports. This is being done to enhance the supply of edible oil in domestic markets.

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The Secretary has said that the supply of imported oil will increase in the domestic market soon.

The government has expedited the process to clear edible oil stock stuck at ports.

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The government has been monitoring the rising of prices of edible oil and has been evaluating it.

Zee Business’ correspondent Chetan Bhutani brings a detailed report on this.

The Secretary in the press conference highlighted some important issues, Bhutani said. He said that the government was keeping a close watch on the prevailing situation. He said that the prices increased because the edible stock oil was stuck at Kandla and Mundra ports. The processes are being expedited so that the prices get relaxed, he said.

The Secretary has indicated that the prices could come down in a few days.

The government will also address the liquidity problems of sugar companies he said quoting the Secretary. Pandey also said that the government was very serious on its ethanol blending programme.

The other important thing highlighted by Pandey was that government has adopted open ended procurement policy to procure wheat and rice and is also distributing it so that there are no issues at the time of the ongoing pandemic.

Bhutani also said that the government is planning to sell wheat and rice in open market at subsidized rates.

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