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NEW DELHI: The apex industry body of solvent extractors, SEA, has urged the retailers of edible oils to reduce the MRP as the current prices are in line with the fall in international prices in the next couple of months and despite domestic bumper harvest of groundnut, soy and mustard.
In its communication to the members, the Solvent Extractors Association (SEA) has said that the department of food and public distribution has advised them to reduce the MRP on edible oils “to pass on the benefits to consumer”.
The SEA said, “While most of the brands have reduced prices of in the past, still the prevailing maximum retail prices (MRP) of the packed edible oil in the market is not in line with the current prices as in the international market..prices of edible oil in the domestic market seems to be on high considering the prevailing market scenario.” It has asked the members to give details of the reduction in MRP in the past three months, which will be sent to the food and public distribution department.
According to department of consumer affairs data, retail prices of edible oils such as groundnut and palm oil on Tuesday remained unchanged at Rs 185 per litre and Rs 105 a litre respectively during the last three months. Retails prices of mustard oil have declined by around 9% to Rs 150 a litre on Tuesday compared to the prices three months back.
In its communication to the members, the Solvent Extractors Association (SEA) has said that the department of food and public distribution has advised them to reduce the MRP on edible oils “to pass on the benefits to consumer”.
The SEA said, “While most of the brands have reduced prices of in the past, still the prevailing maximum retail prices (MRP) of the packed edible oil in the market is not in line with the current prices as in the international market..prices of edible oil in the domestic market seems to be on high considering the prevailing market scenario.” It has asked the members to give details of the reduction in MRP in the past three months, which will be sent to the food and public distribution department.
According to department of consumer affairs data, retail prices of edible oils such as groundnut and palm oil on Tuesday remained unchanged at Rs 185 per litre and Rs 105 a litre respectively during the last three months. Retails prices of mustard oil have declined by around 9% to Rs 150 a litre on Tuesday compared to the prices three months back.
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