The government has asked edible oil companies to reduce their prices by up to Rs 10 per litre

Digital Desk: The government issued a directive to edible oil producers on Wednesday to further reduce the maximum retail price (MRP) of imported cooking oils by up to Rs 10 per litre within a week and to maintain a consistent MRP of the same brand of oil throughout the nation. This directive came in response to a drop in global prices.

India imports more than 60% of its edible oil, therefore retail prices have recently been under pressure as a result of signals from the international market.

Global prices have dropped as a result of a correction, nevertheless.

Edible oil producers cut prices by up to Rs 10-15 per litre last month, and before that, they had lowered MRP by imitating the global market.

Food Secretary Sudhanshu Pandey convened a meeting of all edible oil associations and significant manufacturers in response to a further decline in global prices. The meeting's purpose was to discuss the current trend and determine how to pass on the declining global prices to consumers by lowering the MRP.

"We gave them a thorough presentation and informed them that just the previous week saw a 10% fall in global prices.

"Consumers should be informed of this. We have requested that they lower the MRP, "After the meeting, Pandey spoke to PTI. "

He added that if the costs of these edible oils are cut, the rates of other cooking oils will also be decreased. Major edible oil companies have pledged to lower the MRP by up to Rs 10 per litre by next week on all imported edible oils like palm oil, soyabean, and sunflower oil, he said.

In addition, the Secretary urged the producers to maintain a consistent MRP for the same brands of cooking oil throughout the nation because there is currently a variation of Rs 3-5 per litre between different zones.

Currently, the MRP of the identical brands offered in various zones varies between Rs 3-5 per litre. "There shouldn't be a difference in the MRP when transportation and other costs are already taken into account, he added, adding that the companies had reached an understanding on this matter.

Rising customer complaints about unfair business tactics against edible oil brands were the third topic covered at the meeting.

The Secretary claimed that some businesses label their packages with the statement that edible oil is stored at 15 degrees Celsius. Oil expands and weight decreases at this temperature.

They ought to be packaged at 30 degrees celsius, ideally. The oil swells when packed at 15 degrees Celsius, which lowers the weight. However, the box does not mention the lower weight, which is an unfair business practise.

He gave the example of how some businesses print that an appetising weighing 910 grammes is packed at 15 degrees Celsius when in reality the weight is closer to 900 grammes.

The Consumer Affairs Ministry is also involved in the situation, he continued.

According to data from the Consumer Affairs Ministry, the average retail price of groundnut oil was Rs 187.93 per kg, soybean oil was Rs 185.77 per kg, mustard oil was Rs 177.37 per kg, and sunflower oil was Rs 144.16 per kg on July 6.