The Dhaka Times Desk Whether it is fuel or edible oil, the exact opposite picture of Bangladesh is seen in India. This time, with the increase in Bangladesh, the price of edible oil has decreased after petrol-diesel in India.
On the same day that the price of diesel-kerosene was increased by Rs 15 per liter in Bangladesh, the price of petrol-diesel in India was reduced by Rs 5 to 11 on the same day.
Indians have started reaping its benefits again. Along with the decrease in the price of fuel oil, the price of daily necessities has also started to decrease. Essential edible oil has not been left out.
The prices of palm, soybean and sunflower oil in the country have fallen by Rs 5 to Rs 20 since Friday (November 5), local media reported, citing India's Union Food Ministry. However, the price of mustard oil remains unchanged.
A few days ago, keeping in mind the festive season, the government of the country asked the edible oil selling companies to reduce the prices. Responding to the government's request, the Solvent Extractors Association (SEA), a body of oil sellers, reduced the price of various edible oils by Rs 3 to 5 per kg.
Many organizations of oil sellers also said that it is not possible to reduce the price of edible oil by keeping the tax burden in mind. After that, the central government of the country announced to reduce the duty on several crude oils.
In this regard, India's Union Food Secretary Shudhanshu Pandey said, "We have passed the worst time. Edible oil prices have come down largely due to an increase in supply, duty and destocking.
The country's government has set a stock limit for edible oil and oilseed traders, except for a few importers and exporters, till March 1 to control the price of essential oil at the household level and provide relief to consumers.
Agricultural cess and general duty on edible oils have been reduced, benefiting the open market. Source: Indian Express.
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