Wholesale and retail prices of wheat decreased by 7.12 per cent and 4.37 per cent respectively over the year
While international prices of edible oils are soaring, the domestic market has reported a declining trend in prices with an exception, informed the Department of Food and Public Distribution (DFPD).
Though the international prices of edible oils have gone up in the range of 1.95 per cent to 7.17 per cent after the import duty reduction, the decreasing trend in domestic prices and net effect (ranges for 3.26 per cent to 8.58 per cent declined) after duty reduction is quite substantial. Necessary policy intervention by Central Government with reference to duty reduction is proving to be beneficial for the general consumers.
International prices of soyabean oil, sunflower oil, crude palm oil and RBD palmolein increased by 1.85 per cent, 3.15 per cent, 8.44 and 10.92 per cent respectively over the month. After the import duty reduction (w.e.f. 11.09.2021) on imported edible oils, domestic retail and wholesale prices reduced in the range of 0.22 per cent to 1.93 per cent. However, Mustard oil is purely domestic oil and its prices are expected to soften with a number of other measures the government is contemplating.
Similarly, the wholesale and retail prices of wheat decreased by 5.39 per cent and 3.56 per cent respectively over the year. The wholesale price of rice decreased by 0.07 per cent while the retail price of rice increased by 1.26 per cent over the month.
The wholesale and retail prices of wheat decreased by 7.12 per cent and 4.37 per cent respectively over the year.
Despite the fact that MSP for Rice & Wheat has gone up (from Rs 1868/Qtl. to Rs. 1940/Qtl. for Rice and from Rs. 1925/Qtl. to Rs. 1975/Qtl for Wheat) the price of rice and wheat has decreased in the market which is a comforting factor for consumers.
Notably, as of 06.10.2021, taking the reference as of 17.5.2021, the retail prices of gram, tur, urad and moong decreased by 1.08 per cent, 2.65 per cent, 2.83 per cent and 4.99 per cent respectively.
Regarding prices of onion, potato and tomato, the all-India average retail prices of potatoes decreased by 44.77 per cent over the year. All India average retail prices of onion decreased by 17.09 per cent over the year. The All India average retail prices of tomatoes decreased by 22.83% over the year.
