Pass on to consumers ~15-20/kg benefit in edible oil prices: Govt

Retail edible oil prices are expected to decline by approximately Rs 15-20 per kg post import duty cut, the Centre on

Thursday said and directed eight major producing states to ensure this benefit is passed on to consumers, providing relief during the festival season. On Wednesday, the government had scrapped basic customs duty on crude varieties of palm, sunflower and soybean oils as well as cut duties on refined edible oils to ease retail prices of cooking oils, it said. "This step (import duty cut on edible oils) of the Government of India may cool down the domestic prices of edible oils in India. This will benefit the consumers by Rs 15 to 20 per kg of edible oils," the Food Ministry said in a statement.