In a bid to make edible oils more pocket-friendly for Indian households, the Department of Food and Public Distribution has inspected edible oil refineries across key states, including Maharashtra, Andhra Pradesh, Madhya Pradesh and Gujarat, to ensure that recent cuts in import duties are actually benefiting consumers.
The surprise inspections spanned major port-based refineries and inland processing units that handle crude palm oil, crude soybean oil and crude sunflower oil. The focus? To ensure that reductions in import duties are reflected in lower maximum retail prices and price to distributor tags for refined oils like sunflower, soybean and palmolein.
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So far, so good: Most units inspected have already slashed both MRPs and PTDs, citing the drop in landed cost for crude oils. With more duty-relaxed shipments coming in, several processors have promised further price cuts in the coming days. "Several processing units conveyed their commitment to implement further reductions in prices in the next few days, as they continue to receive lower-cost shipments of crude oils under the revised duty structure," stated the release.
The Centre assured that regular checks will continue to ensure price cuts don't just remain on paper. "Any anomalies or delays in passing on the price benefits will be addressed through appropriate regulatory actions," as per the release.
In fact, earlier this month, the government had convened a meeting with major industry associations, urging them to cut prices immediately and submit brand-wise MRP updates on a weekly basis.
"The Central Government remains committed to maintaining transparency and fairness in the edible oil supply chain, and to safeguarding consumer interests through timely policy interventions and on-ground enforcement," stated the release.
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