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LATEST NEWS UPDATES | Govt reviews cooking oil imports as Ukraine crisis disrupts supplies, prices shoot up -Amiti Sen and Prabhudutta Mishra

Govt reviews cooking oil imports as Ukraine crisis disrupts supplies, prices shoot up -Amiti Sen and Prabhudutta Mishra

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published Published on Mar 4, 2022   modified Modified on Mar 5, 2022

-The Hindu Business Line

Goyal meets industry associations to assess demand-supply situation, alternative plans

Representatives of India’s edible oil industry met Commerce and Food Minister Piyush Goyal on Friday to discuss ways to check the galloping prices of the cooking medium as disruption of supplies of sunflower oil due to the on-going Russia-Ukraine conflict threatens to make the situation worse.

The meeting, called a day after the Union Food Secretary’s discussion with industry representatives on the matter, assumes significance as the government is wary of negative political fallouts of a further spike in cooking oil prices. No administrative measure, including recent imposition of stock limits, has been effective in the past one year to check prices, except for a few days of temporary relief in between immediately after import duties were reduced.

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The Hindu Business Line, 4 March, 2022, https://www.thehindubusinessline.com/markets/commodities/govt-reviews-cooking-oil-imports-as-ukraine-crisis-disrupts-supplies-prices-shoot-up/article65190879.ece


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