As domestic edible oil rates rise, Centre keeps tab on stocks
The government is monitoring edible oil prices after a recent retail hike, linked to a health advisory promoting reduced consumption. Food Secretary Sanjeev Chopra said fresh imports and mustard crushing may stabilize prices. Sugar prices are expected to remain steady during the 2025 festive season despite lower production. Export restrictions will stay to ensure domestic availability and price stability.
Edible Oil Price Hike: The government is closely tracking the supply and pricing of edible oils across the country amid a reported increase in the retail prices of the kitchen staple. The increase in edible oil rates follows the central government’s call this year urging the public to reduce their consumption of the commodity as part of a nationwide drive to promote healthier eating habits.
The Centre is keeping a tab on the current stock positions in the country while monitoring the edible prices, with fresh imports and mustard crushing expected to ease the supplies and to lead to lower retail prices, Food Secretary Sanjeev Chopra told Zee Business.
Meanwhile, the central government is mulling steps to ensure that retail prices stay in the fair range, said the official.
Among other essential commodities, sugar prices are expected to remain stable during the 2025 festive season, he said. Typically, the domestic festive season starts in October and concludes in January. A healthy season sees a rise in offtake and a pickup in consumer demand across the markets.
This year, sugar production has declined in the current marketing season, with the domestic sugar output estimated at 280 LMT for the 2024-25 marketing season. However, the country’s sugar production is estimated to pick up in the next marketing season, reaching 300 LMT, according to the food secretary.
The sugar marketing season runs from October to September in India.
The food secretary said there were no discussions on the lifting of restrictions on sugar exports.
Currently, the government allows certain quantities of sugar exports, with each mill being assigned a fixed threshold to be sold in the foreign markets.
The government imposes these restrictions in order to ensure a sufficient availability and price stability of sugar in the domestic market.
The official also highlighted that overall consumption has gone down in the domestic market.
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Source : Zee Business
