IVPA asks members to reduce retail prices of edible oil
IVPA has urged edible oil producers to reduce retail cooking oil prices during the festive season and report retail prices to the government weekly. The move follows customs duty cuts effective September 24, aimed at curbing Nepal import arbitrage, moderating imports, ensuring fair competition and improving market transparency.
The Indian Vegetable Oil Producers’ Association (IVPA) has written to its members asking them to reduce the retail prices of cooking oil in view of the festive season demand. It has also asked its members to duly share the retail prices of edible oils with the government every week.
This follows the government’s recent decision to reduce customs duties on major imported edible oils, effective September 24, 2026.
A media statement said that the duty rationalisation is expected to narrow the duty arbitrage on imports through Nepal and moderate the surge in imports, thereby creating a level playing field for domestic importers and refiners. The duty reduction, therefore, assumes significance not only from the perspective of moderating consumer prices but also in ensuring greater transparency, fair competition and stability in the domestic edible oil trade, it said.
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Source : BusinessLine
