Edible Oil Price Slashes, Mother Dairy Reduces Prices by Rs 14/litre
The central government has directed the oil companies to slash down the MRP of edible oil by Rs. 10-15 per litre. Mother Dairy is the first company to slash its prices. Read further to know the latest rates.
On Thursday, July 08, Mother Dairy decided to reduce the prices of its soybean oil and rice bran oil by up to Rs 14 per liter. In the last few weeks, edible oil prices have seen a sharp rise. The move is welcomed as providing big relief to the common man. A day before, the government directed the oil companies to reduce their prices as there is a fall in prices globally.
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Mother Dairy Oil prices after reduction
As a spokesperson from Mother Dairy said, "Given the benefit of the fall in oil prices to consumers after government intervention, we have reduced the MRP of Dhara Soybean Oil and Dhara Rice Bran (Rice Bran) Oil by Rs 14 per liter. Products with new prices will be available in the market by next week."
Edible oil to drop down by Rs 10-12/litre within a week: sources
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After the latest reduction, Dhara Refined Soybean Oil (Poly Pack) will cost Rs 180 per liter which is currently costing Rs 194 per liter. Dhara Refined Rice Bran Oil (Poly Pack) will cost Rs 185 per liter which is currently selling at Rs 194 per liter.
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Oil prices to reduce more in the upcoming days
Edible oil prices are witnessing a dip in the international market which is directly going to impact the rates in the domestic markets. The Union Food Secretary, Sudhanshu Pandey said, "We made a detailed presentation and told them that global prices have declined by 10 percent in last one week alone. This should be passed on to consumers. We have asked them to reduce the MRP", as reported by the news agency PTI.
B V Mehta, executive director of Solvent Extractors Association of India (SEA) said, "We have already lowered the retail prices by Rs 10-20 per liter, depending upon the brands. We would lower them by another Rs 10-15 per liter but it can't happen overnight as cargoes are booked in advance and price transfer takes time", quoted as saying by Business Standard.
