The Government of India has taken several proactive steps in the last few months to stabilise the prices of edible oils in the country, including declaration of stocks by all stockholders of edible oils and oilseeds under the Essential Commodities Act (EC Act), 1955.
"The government has taken many measures. A recent step is that we have initiated an inspection drive from April 1 to curb hoarding and black marketing of edible oils and oilseeds," Food Secretary Sudhanshu Pandey told PTI.
In 2020-21, the domestic production of edible oils stood at 111.51 lakh tonnes, while imports were recorded at 134.52 lakh tonnes and demand was for 246.03 lakh tonnes.
Mumbai: Groundnut oil prices rose at the Vashi oils and oilseeds wholesale market here today following consistent demand from stockists and retailers. Meanwhile, castorseeds bold and castoroil commercial eased owing to sluggish demand from soaps and shippers industries. Also, refined palmolein and linseed oil held stable in the absence of any worthwhile buying activities. In […]
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