Edible oil is set to get further cheaper despite huge demand during the festival season in August. The development assumes significance as the government has called a meeting of importers and manufacturers of oil companies in view of fall in global prices of cooking oil. The Food Ministry will be holding the meeting on Thursday, August 4.
The edible-oil producers have also slashed the prices by up to Rs 30 in the last month, responding to the government’s request to cut prices.
It is expected that the prices of edible oil can further come down by Rs 10-12 once the representatives of edible oil companies entertain the government’s request.
Earlier in July, the oil companies had reduced the prices of edible oil by Rs 15-30.
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