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Edible oil prices down in last one week relief for consumers. News of relief for the common man, the prices of edible oil fell last week

Along with imported oils, pressure has been established on all indigenous oils and oilseeds. Due to this, the prices of mustard, groundnut, soybean oil-oilseed, cottonseed, crude palm oil (CPO), palmolein oil have come down.

News of relief for the common man, the prices of edible oil fell last week

The prices of Mustard, Groundnut, Soybean oil-oilseed, Cottonseed, Crude Palm Oil (CPO), Palmolein oil declined.

Image Credit source: Representational Image

Due to fall in the prices of edible oils in foreign markets, pressure has been established on imported oils as well as all domestic oils and oilseeds in the Delhi oil-oilseed market last week. Due to this, the prices of mustard, groundnut, soybean oil-oilseed, cottonseed, crude palm oil (CPO), palmolein oil have come down. Knowledgeable sources of the market said that due to fall in the prices of edible oils in foreign markets, pressure has been established on all oil-oilseed prices. But despite this there is no relief to the consumers.

Help received from the new system of the government

The reason for this is the quota system adopted by the government in relation to oil imports. After the implementation of the quota system, the rest of the imports have come to a standstill, due to the low supply situation in the market, sunflower and soybean oil consumers have to buy them at a higher price than before.

Last year, the difference between the prices of soybean and palmolein used to be Rs 10-12, has increased to around Rs 40 per kg this year. Palmolein has become so cheap that no other oil can survive in front of it. This is the reason that despite the demand of winter, the prices of edible oils are going down under heavy pressure.

difficult for small businesses

According to the PTI report, sources said that this is the situation in Cottonseed. One, the markets abroad are broken and farmers are bringing less arrivals to the mandis for cheap sale. Because of this the ginning mills which separate cotton and narma from cottonseed are not running. The condition of small industries is very bad. The quota system does not seem to provide any relief to the farmers, the oil industry and the consumers. The most important people for the country are the farmers, followed by the consumers and then the oil industry.

Big oil organizations should play an important role in maintaining proper harmony in the interests of all these. But the quota system is not giving the expected result, that is, instead of getting cheaper, the prices of edible oils have become costlier. There is a need to think again on this. It is the responsibility of the major oil organizations of the country to tell the ground truth to the government and give advice about the proper way.

(with language input)

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