Govt considers edible oil price cut

BS reports

The Agriculture Ministry called a meeting of oil industries’ associations today to discuss the possibilities of reduction in edible oil prices.

In the meeting, the agriculture secretary informed the industry representatives the government wanted to keep prices of essential commodities, including edible oils, under control. He sought industry’s co-operation in that regard.

Leading industry body like SEA and SOPA said the import duty cut was unwarranted as it would directly affect the interests of growers. “As the mustard and Soya bean crop is arriving in the market, and cheaper imports means they would not get the expected prices,” they said.