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Monday, October 18, 2021

Retail price of mustard oil high, govt says other edible oil prices softening

The data shows that all-India daily average retail prices of mustard oil (packaged) has seen an increase of 3.09 per cent in the last one month, and 43.31 per cent in the last one year.

Written by Harikishan Sharma | New Delhi |
Updated: October 9, 2021 8:51:34 am
Mustard oil is costliest of the six edible oils for which the ministry monitors retail and wholesale price data. (Express File)

With prices of cooking oil prices continuing to remain high, all-India daily average retail price of mustard oil was recorded at Rs 184.15 per kg on Friday, with at least 22 centres, including Mumbai and Lucknow, reporting an even higher Rs 200 and above, according to latest data available with the Union Ministry of Consumer Affairs, Food and Public Distribution.

The data shows that all-India daily average retail prices of mustard oil (packaged) has seen an increase of 3.09 per cent in the last one month, and 43.31 per cent in the last one year.

Source: Ministry of Consumer Affairs, Food and Public Distribution

The ministry, however, said prices of all edible oil except mustard have started softening after the government reduced import duty on imported edible oils. “Mustard oil is purely domestic oil and its prices are expected to soften with a number of other measures the government is contemplating,” the ministry said in a statement.

Explained

Why edible oil prices are rising

Higher prices in the international market has kept domestic cooking oil prices high. Domestic edible oil prices usually mirror international prices since 60 per cent of India's demand is met through imports. Retail prices of vanaspati and groundnut oil have also shown no decline.

Of 145 centres for which mustard oil retail prices were reported on Friday, Port Blair recorded the highest — Rs 224 per kg — and Shivamogga (Karnataka) the lowest at Rs 117 per kg.

Mustard oil is costliest of the six edible oils for which the ministry monitors retail and wholesale price data. Retail prices of the other edible oils are Rs 182.61 per kg for groundnut oil, Rs 136.59/kg (vanaspati), Rs 155/kg (soya oil), Rs 169.53/kg (sunflower oil), and Rs 132.91/kg (palm oil).

All-India average daily retail prices of soya oil, sunflower oil and palm oil have recorded a marginal decline of 0.26 per cent to 1.70 per cent, respectively, in the last one month.

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