Huge fall in the price of mustard oil
People heaved a sigh of relief as the prices of edible oils fell. Mustard and soybean oil which were touching the sky two to three months ago. Today they have come down from Rs 17 to 22. The reason for this is to reduce the tax on imported edible oils to zero as well as the order issued by the government to ban futures trading. Traders say that further reduction in oil prices may be seen in the future. Due to which the pocket pressure of the people will be less.
Mustard oil price reduced so much
If we look at the prices of oil in the last one month, then in October-November, mustard oil was being sold at Rs 185 per liter. At this time it has come down from Rs 163 to Rs 168 per liter. Similarly, soybean oil which was Rs 140 per liter in November has come down to Rs 130 to Rs 132 per liter at present.
Soybean oil price also fell
According to market experts, the prices had started rising from September itself due to low production of soybean, the main Kharif crop. Due to this, the price of soybean oil had increased from Rs 90 in September to Rs 140 per liter by January. The budget of the common man’s household was deteriorating at a record rapid rate of Rs 45 per liter in four months in the price of oil. But now it has started declining. Due to this people have started saving eight to ten rupees.
Mustard production has improved this year as compared to last year. Certainly, the prices of oil will come down further in the coming days. The distribution of edible oil in the ration also reduces the demand for mustard oil. This is also one of the reasons for the fall in prices. Oil prices have come down significantly in the last one month. Sanjay Singhania, President, Chamber of Commerce
Oil prices have come down due to the efforts of the government. Further reduction in prices is expected going forward. Due to which people will get relief and their kitchen budget will also be under their control. – Manoj Tripathi, oil wholesaler.
