edible oil prices: India asks trade bodies to cut edible oil prices by 15 rupees/litre

India has asked the trade bodies to reduce edible oil prices by 15 rupees per litre immediately due to substantial drop in prices in the world market, the government said in a statement.

The biggest importer of vegetable oils in the world has urged the trade bodies to quickly pass on the drop in global prices to end-consumers.

India primarily buys palm oil from Indonesia, Malaysia and Thailand, while soy oil is mainly sourced from Argentina, Brazil and the United States. Moreover India imports sunflower oil from Ukraine and Russia.

Inputs from Reuters