Even after the instructions of the government, the prices of edible oil are not coming down. Regarding this, the government has written a letter to the three major edible oil associations asking them to reduce the price immediately and inform the Food and Public Distribution Department about it regularly.
In a letter to the Solvent Extractors Association of India, Vegetable Oil Producers Association of India, and Soybean Processors Association, it has been said that there has been a fall in edible oil prices globally. In such a situation, the industry associations should talk to their members and ensure the availability of edible oil to the consumers with reduced rates of at least Rs 15 per liter. On July 6, companies were instructed to reduce prices within a week.
Even after five days of the instructions of the government, many companies have not reduced the prices of edible oil. These companies include Adani Wilmar, Ruchi Soya, Kargil, and Alana. So far, only Liberty, Park Agro, and Mother Dairy have reduced prices.
Dependence on oil imports is not in the interest of the country
Heavy reliance on edible oil imports may compromise India's national interest in the long run. Rating and research firm CareAge said in a report, that it is now necessary for India to not only become self-reliant through self-confidence initiatives but also move forward by becoming the best. Self-reliance means being financially prudent as well as strategically savvy. A report said that due to the Russia-Ukraine crisis, major edible oil-exporting countries had banned the export of palm oil. In such a situation, India should increase the production of domestic oilseeds to reduce import dependence. However, it has been increasing in the last few years. Still, it is not being produced as much as it is consumed.
Also Read: Is Recession Coming: Is a recession like 2008 coming again in the world, what will be its effect on India?F
ICSI CS June 2022 Result: The Institute of Company Secretaries of India (ICSI) will soon declare
Before the counting of votes, the political temperature has heated up. AAP has made serious alleg
People's wait is over and the most awaited show of the year 'Panchayat Season 4' has now been rel
The rupee on Monday gained 12 paise to close at 79.78 against the dollar. This is the one-week hi
NDA candidate for the post of Vice President, C.P. Radhakrishnan, has filed his nomination. Prime
Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi has issued a stern warning to foreign players
Punjab Kings team has reached the final of IPL 2025. It defeated Mumbai Indians by five wickets i
Apple has introduced the iPhone 15 Series with three major changes. This time, three major change
Delivering a powerful message aimed at making the nation empowered and self-reliant, Prime Minist
Given the Chhattisgarh Assembly elections, Prime Minister Narendra Modi is visiting Durg today. D
