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Center to hold price monitoring committee meeting on Friday to investigate rising cost of edible oil

new Delhi: To examine COVID-19-hit prices of edible oil, the Center is likely to hold a price monitoring committee on Friday (January 15, 2021).

According to sources, the committee may recommend keeping prices under control and also suggest reduction in import duty.

Earlier in November 2020, the central government cut import duties.

Edible oil prices have seen a surge Kovid-19 Outbreak.

In particular, edible oil is India’s third largest imported commodity after crude oil and gold. India is reportedly the world’s largest importer of edible oil and buys around 15 million tonnes annually from countries.

Meanwhile, reports suggest that edible oil consumers have made a significant change to soft oils such as sunflower oil, mustard oil, soybean etc.

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