Edible oil on fire: Food Secretary asks states’ officials to check unfair practices and bring transparency

Vibha Sharma
Tribune News Service
New Delhi, September 10

With edible/cooking oil literally on fire, the Centre on Friday stepped in with Food and Public Distribution Secretary Sudhanshu Pandey asking states to check unfair practices and bring transparency in their availability.

Briefing on his meeting with state officials, Pandey said stockists and millers have been asked to disclose stock and submit the data on a portal for transparency and better monitoring.

Stockists and sellers will also be required to display the prices in their shops/premises, he said, adding that the move is expected to bring relief to consumers.

Better monitoring will deter unfair practices and hoarding, he added.

Pandey said that to minimise the possibility of the unfair practices of any kind and bring transparency in their availability, the Centre recently asked the states to take disclosures of stock of edible oilseeds and oils with millers and stockists.

Meanwhile, the production of oilseeds is also expected to increase in the coming Rabi season, which will also bring the prices down, he said.

The country achieved the highest production of mustard seeds at 101 lakh tonnes this year compared to 91 lakh tonnes (LT) last year.

With international commodity futures showing a declining trend, officials are also hoping that edible oil prices will soften by December.

Prices of cooking oils in the domestic market are currently ruling at record highs.

Due to a gap between demand and supply, around 60 per cent of edible oils consumed in the country are met through imports.

Palm oil, which constitutes around 54 per cent of the total edible oil, is imported mainly from Indonesia and Malaysia. Soybean oil, which constitutes around 25 per cent, is imported from Argentina and Brazil, and sunflower oil, which constitutes 19 per cent, mainly from Ukraine

In case of palm oil (crude and refined), the imported quantity for August 2021 was 7.43 LMT as against 5.65 LMT in July 2021.

The increase in August is 31.50 per cent from the previous month which is largely due to opening up of the economy, officials explain.

The central government has already reduced import duties on crude and refined edible oils, including palm oil, to bring down retail prices.

An inter-ministerial committee on agri commodities chaired by Secretary (Food) is also in place to closely monitor the prices and availability of agricultural commodities, including edible oil keeping in view the interest of the farmer, industry and consumers, they add.

Production and availability of Soya seeds will improve from the Kharif season beginning October and other oilseeds as well by the coming Rabi season.

Pandey said production and availability of Soya seeds will improve from the Kharif season beginning October and other oilseeds as well by the coming Rabi season. “This would also bring the prices of edible oils down”.