According to central government data, the retail price of edible oil is between Rs 150 and Rs 190 per liter. Leading edible oil producers Adani Wilmer and Mother Dairy have slashed prices of various edible oils by Rs 10 to Rs 15 per liter. The newly printed goods will be introduced in the retail market, said Union Food Secretary Sudhanshu Pandey.
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According to the latest data from the Union Ministry of Consumer Affairs, the price of peanut oil at the end of June 21, 2022 is Rs 188.14 per liter. On June 1, 2022, it was Rs 186.43. Mustard oil price 180. It is Rs. On June 1, 2022, it was Rs 183.68.
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The price of palm oil has also come down slightly. The price of one kg of palm oil was Rs 152.52 and on June 1, 2022 it was Rs 156.40. Soybean oil was priced at Rs 167.67 on June 21, 2022 and Rs 169.65 on June 1, 2022. Meanwhile, consumers will be relieved as oil will become cheaper by another Rs 10-15 in the retail market as per the new prices.
Over the past year, edible oil prices have been out of reach. He had many reasons. Oil prices rose sharply due to the Russia-Ukraine war and restrictions on palm oil exports from Malaysia. However, over the past week, the price of edible oil has declined in the international market. In addition, India has increased its supply of edible oil from Argentina and Russia. Both these countries are getting extra supply of sunflower oil. Which has brought down oil prices.