Edible oil prices declined by up to Rs 20, says food department

Edible oil prices have declined quite significantly, said Sudhanshu Pandey, Secretary of the Department of Food and Public Distribution.

New Delhi: Sudhanshu Pandey, Secretary of the Department of Food and Public Distribution, on Friday (November 5), said that edible oil prices have declined quite significantly, ranging from a decline of Rs 20/- to Rs 18/-, Rs 10/-, Rs 7/- at many places. 

Addressing a presser in Delhi, Pandey said that the cooldown in prices is witnessed in palm oil, groundnut oil, soyabean oil and sunflower oil. According to the secretary, the oils constitute ~89% of the total oil basket. 

Meanwhile, Pandey also refuted any speculation of the extension of the Pradhan Mantri Garib Kalyan Yojana. Pandey "Since the economy is in revival mode, as of now there is no proposal to extend of Pradhan Mantri Garib Kalyan Yojana," said Pandey. 

Delhi | Edible oil prices have declined quite significantly, ranging from a decline of Rs 20, 18, 10, 7 at many places. Decline is witnessed on palm oil, groundnut, soybean, sunflower & all major oils: Sudhanshu Pandey, secretary of the Department of Food and Public Distribution pic.twitter.com/rmAdD2VO8t — ANI (@ANI) November 5, 2021

Pradhan Mantri Garib Kalyan Yojana is a comprehensive relief package worth Rs 1.70 lakh crore that for the poor to help them mitigate the financial crisis of the COVID-19 pandemic. Also Read: 

Previously, Pandey had recently said that the Central government is tightening the noose on rising inflation amid the ongoing festive season, aiming to tame the rising prices of pulses and edible oils. He has added that the state governments will start fixing the stock limit from next week after holding talks with the traders. Also Read: