Pass on to consumers Rs 15-20/kg benefit in edible oil prices: Govt

www.business-standard.com
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The cut in import duty and cess, effective from October 14, will remain in force till March 31, 2022.
Retail prices are expected to decline by approximately Rs 15-20 per kg post cut, the Centre on Thursday said and directed eight major producing states to ensure this benefit is passed on to consumers, providing relief during the festival season.

On Wednesday, the government had scrapped basic customs duty on crude varieties of palm, sunflower and soyabean oils as well as cut duties on refined edible oils to ease retail prices of cooking oils, it said.

"This step ( cut on edible oils) of the Government of India may cool down the domestic prices of edible oils in India. This will benefit the consumers by Rs 15 to 20 per kg of edible oils," the Food Ministry said in a…
Press Trust of India
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