As war pressures ebb, edible oil prices may ease 10% ahead of the festive season
India could see retail edible oil prices decline by up to 10% in the coming months and remain stable through the festive season, following the easing of tensions in West Asia. An empowered government group expects improved supply conditions and reduced inflationary pressure on imported edible oils.
New Delhi: With the West Asia war drawing to an end, India may see retail prices of edible oils easing by up to 10% in the coming months and then staying stable through the peak consumption season of festivals that starts August, said two people citing an assessment by an empowered group of officials and experts on managing inflation in the wake of the war. India is the world’s top importer of edible oils.
The government had set up seven empowered groups late March to assess the impact of the war and take remedial steps across sectors, including national security, external affairs, the economy, trade and supply chains, energy, fertilizers and farm inputs, prices of essential commodities, transport and logistics, and public communication.
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Source : Mint
