At present, agri cess is 17.50 percent on palm oil and 20 percent on sunflower and soybean oil.
The price of edible oil is at the highest level of 5 years.
The price of edible oil is touching the sky. In such a situation, to curb the price, the government can reduce the agri cess on its imports. According to a Times of India report, the government may reduce the agricultural infrastructure and development cess on crude palm oil (palm oil), sunflower (sunflower) and soy oil imports. This will bring down the price and the general public will get some relief. The price of oil is currently at the highest level of the last five years.
In order to develop agriculture infra, the government started Agri Cess in the budget 2020. At present, it is 17.50 per cent on palm oil and 20 per cent on sunflower and soybean oil. India imports 60 per cent of its edible oil. Around 75000 crore edible oil is imported every year. According to government figures, the price of edible oil has gone up by 55.55 percent in the last one year. Food Secretary Sudhanshu Pandey had said recently that the government is constantly monitoring the rising price of oil.
Vegetable oil is selling for Rs. 140
According to the government report, the price of vegetable oil in retail has crossed Rs 140. In the first week of May last year, it was at the level of 90 rupees. Talking about palm oil, it has increased by 52 per cent in the last one year. In the first week of May last year, its price was Rs 87, which rose to Rs 133. There has been a 50 per cent rise in cyobin oil. It has gone from Rs 105 to Rs 158. Mustard oil has gone up by 49 percent and it has reached the level of Rs 164 against Rs 110.
Soybin oil rises 37 percent
The retail price of soya bean oil has risen by Rs 37 to Rs 133 per cent. Last year, this price was 87 rupees. Groundnut oil has gone up by 38 percent and it has reached the level of 180 rupees as against 130 rupees.
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