Consumers can expect to get a relief of Rs 10–12 a litre on the price of cooking oils of all major brands in the next two weeks, as the central government asked industry representatives to pass on further reductions in international prices.
In a meeting held with industry representatives, Union Food Secretary Sudhanshu Pandey asked the companies to cut the MRP by Rs 10-12 a litre within a fortnight, reports said, quoting executives who attended the meeting. This was the third such meeting since May. The industry expects the prices to fall further.
Cooking oil prices have been firm for the past two years, setting new record highs. This is one of the reasons for consumer price inflation staying at uncomfortable levels.