Edible oil costs have dropped by up to Rs 20, says food department

On Friday (November 5), Sudhanshu Pandey, Secretary of the Department of Food and Public Distribution, revealed that edible oil prices have dropped drastically, ranging from Rs 20/- to Rs 18/-, Rs 10/-, and Rs 7/- in several regions.

Pandey told a press conference in Delhi that prices in palm oil, groundnut oil, soyabean oil, and sunflower oil have dropped. The oils account for 89 percent of the whole oil basket, according to the secretary.

Meanwhile, Pandey rejected any suggestions that the Pradhan Mantri Garib Kalyan Yojana would be extended.

"Since the economy is in revival mode, as of now there is no proposal to extend of Pradhan Mantri Garib Kalyan Yojana," said Pandey.

 The Pradhan Mantri Garib Kalyan Yojana is a Rs 1.70 lakh crore comprehensive relief plan for the poor to help them cope with the financial difficulties caused by the COVID-19 pandemic.

Pandey has previously stated that the central government is tightening the leash on rising inflation as the Christmas season approaches, with the goal of taming soaring pulse and edible oil prices. He went on to say that state governments will begin setting stock limits next week after meeting with traders.