New Delhi, June 19
The government has said that it will continue to closely monitor and conduct periodic reviews to ensure that the benefits of lower import duties on edible oil translate effectively into lower consumer prices across the country.
Any anomalies or delays in passing on the price benefits will be addressed through appropriate regulatory actions, according to Department of Food and Public Distribution (DoFPD), which has conducted a series of comprehensive inspection visits to key edible oil refining and processing facilities across the country.
The inspections, which were carried out over the past few days, covered major port-based edible oil refineries and inland processing plants that import Crude Palm Oil (CPO), Crude Soybean Oil, and Crude Sunflower Oil.
Some of the major industries were visited, the specific States include: Maharashtra, Andhra Pradesh, Madhya Pradesh and Gujarat, where maximum edible oil processing facilities are situated.
“These inspections were aimed at reviewing the impact of recent duty reductions on the Maximum Retail Price (MRP) and the Price to Distributor (PTD) of refined edible oils such as Refined Sunflower Oil, Refined Soybean Oil, and RBD Palmolein,” according to the Ministry of Consumer Affairs.
A majority of the inspected units have already reduced both MRP and PTD in response to the reduction in landed cost of imported crude edible oils, made possible due to the recent rationalisation of import duties.