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
An accurate system should be developed to issue early earthquake warnings through smartphone app
Earthquake tremors were felt twice in a large geographical area of North India including De
Shiv Sena (UBT) MP Sanjay Raut has reacted sharply to the US granting India a one-month extension
The ongoing crisis in West Asia has disrupted air travel for a fourth day. The major upheaval, tr
The Indian team kept going through a phase of experiments till just before the 2019 ODI World Cup
Shivaji Jayanti: Chhatrapati Shivaji Maharaj's birth anniversary is being celebrated in the count
The Supreme Court has issued a significant order regarding the Special Intensive Review (SIR) in
The Bharatiya Janata Party and the Aam Aadmi Party suffered setbacks in the by-elections held in
Silver Price Crash: Precious Metal Falls 45% From Peak—Will Prices Drop to ₹1.50 Lakh Next?
After witnessing a historic rally earlier this year, silver prices have entered a sharp correctio
Shahid Afridi joins Ravi Shastri's tone regarding changes in ODI cricket
Team India's former cricketer and head coach Ravi Shastri recently said that to save the future o
The Supreme Court has refused to impose more restrictions on the freedom of speech of ministers,
