States told to help cut edible oil prices
The Hindu
‘Don’t let refiners, wholesalers stock in excess of their two-month storage capacity’
With edible oil prices remaining firm ahead of the festive season, the Centre has urged the States to take suitable action to ensure lower prices for consumers, including a review of their stockholding limits.
Food and Public Distribution Secretary Sudhanshu Pandey has written to the States outlining the initiatives taken to ease prices for consumers “keeping the festive season in mind” and convened a review meeting with them on Monday. He has also advised them not to allow any stakeholder in the supply chain to hold stocks in excess of two months of storage capacity.
Retail inflation in edible oils and fats stood at 34.2% for September, even as the headline consumer price inflation cooled off to 4.2% and food price inflation fell to just 0.68%.
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