Retail price of mustard oil high, government says prices of other edible oils drop

While cooking oil prices remain high, the average daily retail price of mustard oil across India was recorded at Rs 184.15 per kg on Friday, with at least 22 centers including Mumbai and Lucknow, reporting an even higher price of Rs 200 and more. , according to the latest data available from the Union Ministry of Consumption, Food and Public Distribution.

Data shows that the average daily retail prices of mustard oil (packaged) across India have increased 3.09% in the past month and 43.31% in the past year.

Source: Ministry of Consumption, Food and Public Distribution

The ministry said, however, that the prices of all edible oils, except mustard, had started to decline after the government reduced import duties on imported edible oils. “Mustard oil is purely domestic oil and its prices are expected to decline along with a number of other measures being considered by the government,” the ministry said in a statement.

Explain

Why are edible oil prices rising

Higher prices in the international market have kept domestic cooking oil prices high. Domestic prices for edible oils generally reflect international prices as 60 percent of India’s demand is met by imports. Retail prices for vanaspati and peanut oil have not declined either.

Of the 145 centers for which retail mustard oil prices were reported on Friday, Port Blair recorded the highest – Rs 224 per kg – and Shivamogga (Karnataka) the lowest at Rs 117 per kg.

Mustard oil is the most expensive of the six edible oils for which the ministry monitors retail and wholesale price data. Retail prices for other edible oils are Rs 182.61 per kg for peanut oil, Rs 136.59 / kg (vanaspati), Rs 155 / kg (soybean oil), Rs 169.53 / kg (sunflower oil) and Rs 132.91 / kg (palm oil). ).

Across India, the average daily retail prices of soybean oil, sunflower oil and palm oil registered a marginal decline of 0.26% to 1.70%, respectively, in the past month.


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