Despite Gujarat govt's intervention in edible oil market, no relief in prices to consumers
Published By : Prameya News Bureau | August 09, 2022 IST
Share
Ahmedabad, Aug 9: Last week the Gujarat government announced that it will provide groundnut oil of one liter pack at Rs 100, at 50 per cent subsidised rates. Yet, the prices of edible oil are seeing an upward trend and the people are not getting any respite. On Tuesday, 17-liter groundnut oil tin price was quoted Rs 2,850, the highest in this calendar year so far. Palm oil is trading at Rs 2,050 for 17-liter tin. The reason behind this is that most of the oil processing units are closed as there is no stock of groundnut in the market and the imports of palm crude oil were opened after a short break. Due to the festival season demand, the retail market is high which is pushing up the prices, said Kishore Viradiya, President of Saurashtra Oil Mill Association. On the other hand, the state government is going to distribute 71 lakh liter of groundnut oil to the ration card holders under the National Food Security. The supply is underway and before Gokulashtami the government targets to distribute to the poor people, said Tushar Dholakia, Director of the Gujarat Foods and Civil Supplies Corporation. Dholakia said that the state government is procuring 1.42 crore litres of groundnut oil from the open market, the rest 71 lakh litres will be distributed on the eve of Diwali. Viradiya said, "This could trigger prices for the simple reason that the state has not crushed oil in its own groundnut stock, it is procuring oil from the open market. Its intervention is limited to 71 lakh families, rest of the commoners or low income groups are left at the mercy of the open market and that is why the state government's announcement has little impact on the market prices."
News7 Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp
You Might Also Like
More From Related News
Lok Sabha polls: PM Modi to campaign in MP, UP today
Karnataka's Election Commission plans 1,832 special polling booths for inclusive voting
Bridge connecting to Manipur damaged by IED blasts
BRS chief KCR starts 17-day bus yatra to boost party campaign ahead of polls
All three units of EVMs have their own microcontroller: SC informed
India to become one of biggest semiconductor hubs in next 5 years: Vaishnaw
PM Modi advocates for resilient infrastructure at 39-nation meet on natural disasters
Supreme Court to issue directions on mandatory VVPAT verification
PM Modi to address public meetings in Chhattisgarh, MP today
DRDO develops India's lightest bulletproof jacket
Lok Sabha polls: NDA will sweep all 28 seats in K'taka, says Amit Shah
India carries out successful launch of medium-range ballistic missile's new version
Fire at Bandhwari landfill site raises concerns
EcoR to run 10 Summer Special trains in Odisha, Know details.....
Surat Congress leader Nilesh Kumbhani 'vanishes' amid election controversy
BJP dividing people in name of religion: Sharmila
More than 5 grams of artificial sweetener saccharin a day can be fatal: Doctors
PayU gets RBI's in-principle nod to operate as payments aggregator
Nagpur school management faces action in poll code violation complaint against Union Minister Gadkari
Time for Global South to assume greater role: EAM Jaishankar at ASEAN meet