Domestic Edible Oil Prices Didn’t Surge As Much As Global Rates: Goyal

New Delhi: Union Minister for Consumer Affairs, Food and Public Distribution, Piyush Goyal, said on Tuesday that domestic prices of edible oil have not surged as much as global rates, which have been very high over the last year.

In a written reply to a question asked by Lok Sabha MP Lallu Singh, Goyal informed the House that domestic production of edible oils is not adequate to meet their demand in the country.

“The gap between demand and production of edible oils is met through imports. The prices of edible oils are rising internationally and since domestic production is inadequate, domestic prices of edible oils have risen during the last year, he said.

“However, there is no commensurate increase in the domestic wholesale and retail prices of edible oils as compared to the international prices, which have been ruling very high over the last year,” he added.

Informing the House about the steps taken by the government to check the prices of edible oils, Goyal said that an inter-ministerial committee on agri commodities chaired by the Food Secretary is in place to closely monitor the duty structure of edible oils and other commodities in addition to their price and availability, keeping in view the interests of the farmer, the industry and the consumer.

To reduce the dependency on the import of edible oils through increase in production and productivity of oilseeds in the country, a Centrally sponsored scheme, National Food Security Mission (Oilseeds and Oilpalm), has been implemented in the country with effect from 2018-19 by the Department of Agriculture, Cooperation and Farmers Welfare, he said.

This mission comprises three sub-missions, namely NFSM-Oilseeds (25 states and 3 UTs), NFSM-Oilpalm (12 states) and NFSM-TBOs (7 states and 1 UT) and it is being implemented through the state department of agriculture and horticulture.

A special programme on rapeseed/mustard has also been initiated in 10 states to increase the production, said the minister.