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Relief: Edible oil will be cheaper, Center may reduce agri cess


Relief: Edible oil will be cheaper, Center may reduce agri cess 1

New Delhi. The price of edible oil is touching the sky. In such a situation, to curb the price, the government can reduce the agri cess on its imports. The government may reduce the Agriculture Infrastructure and Development Cess on imports of crude palm oil (palm oil), sunflower (sunflower) and soy oil. This will bring down the price and provide some relief to the general public. The price of oil is currently at the highest level of the last five years. In order to develop agriculture infra, the government started Agri Cess in the budget year 2020. At present, agri cess on palm oil is 17.50 per cent and on sunflower and soybean oil is 20 per cent.

60% edible oil import-
India imports 60 per cent of its edible oil. Edible oil worth about 75000 crore rupees is imported every year. According to government data, the price of edible oil has gone up by 55.55 per cent in the last one year. Food Secretary Sudhanshu Pandey had said recently that the central government is constantly monitoring the rising price of oil.

Vegetable oil 140 rupees kg –
According to the report, the price of vegetable oil in retail has crossed Rs 140. It was at Rs 90 in the first week of May last year. Talking about palm oil, it has increased by 52 per cent in the last one year. In the first week of May last year, its price was Rs 87, which rose to Rs 133.

Soybean oil up by 37%
Soybean oil has gone from Rs 105 to Rs 133. Mustard oil has gained 49% and has reached Rs 164 level against Rs 110. Soybean oil price has gained 37% to reach the level of 133 rupees. Groundnut oil has gone up by 38% and has reached 180 rupees as against 130 rupees.

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