Drop in edible oil prices provides relief to citizens

Prices reduced by Rs 5-10, Safflower oil sold at Rs 220 per litre

Aurangabad: In the last four to five days, the prices of soybean, sunflower and palm oil have fallen by Rs 5 to 10 per litre. This has provided some relief to the citizens reeling under severe inflation.

The prices of fuel and cooking gas have been constantly increasing for the past two years. The rising prices of edible oil were also adding to the misery of the citizens. In August 2020, the price of safflower oil was Rs 154 per litre, groundnut oil Rs 134 per litre, Soybean Rs 88, Sunflower Rs 98, Sesame Rs 160, Mustard Rs 130 and palm oil Rs 86. However, the prices of edible oil have been sky rocketting in the past two years. Safflower oil was being sold at the highest price of Rs 220 per litre. To curb the rising fuel prices, the Central government abolished customs duty on edible oil for two years. However the price of edible oil remained high. The price of soybean and sunflower oil were reduced to some extent on two occasions during the past two months reducing by Rs 5 to 10 per litre, while the prices of palm oil have decreased by Rs 10 per litre, said edible oil trader Ashok Chaudhary.

Edible oil Rates (per litre)

Safflower : Rs 220

Groundnut : Rs 180

Soybean : Rs 132

Sunflower : Rs 146

Palm : Rs 110