Food Secretary Sanjeev Chopra said prices of essential commodities like sugar and edible oils are stable, and no spike is expected during the upcoming festival season.
Chopra assured consumers that the recent hike in basic customs duty on some edible oils, aimed at supporting domestic oilseed farmers, would not lead to significant price rise.
“We have been able to maintain prices at a reasonable level for consumers,” Chopra said at a press conference.
The government raised the basic customs duty on crude soybean oil, palm oil, and sunflower oil to 20 percent from nil, effective September 14. Chopra noted that the industry has been directed to sell 1.3 million tonnes of edible oils still in stock at zero duty. Once this stock is depleted, prices are not expected to rise drastically. He cited effective policies under Prime Minister Narendra Modi’s third term for this price stability achievement.
PTI
