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Edible oil prices will soften by Rs 15/litre in a few weeks: Industry

Decision arrived at today during a meeting between industry players & officials

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Globally, palm oil, the world’s most consumed edible oil, has plunged more than 45 per cent from its record close in April to the weakest level in a year (Photo: Bloomberg).

Sanjeeb MukherjeeAgencies New Delhi
The edible oil industry has assured the government of further reduction in retail prices by at least Rs 10-15 a litre in the next few weeks, trade sources said.

The assurance was given during a meeting that the industry had with senior officials from the food ministry on various issues concerning the edible oil industry.

PTI reported that food secretary Sudhanshu Pandey — while directing the industry to lower prices — also asked the players to maintain a uniform maximum retail price (MRP) of the same brands of cooking oils across the country. Currently, there is a difference of