Agencies
New Delhi, Apr 25:
In a piquant situation, the trading community has contested the government data that reflects retail edible oil prices have surged by up to Rs 10 a kg during the week ended April 12.
An analysis of the data from the Consumer Affairs Ministry reveals that retail prices of edible oils have surged by a maximum of 10.98 per cent, but the apex body of edible oil traders, Solvent Extractors' Association, has challenged it saying the consumer prices of oil have come down by Rs 5-7 a kg even as they slipped by up to Rs 15 a kg in the wholesale market.
Interestingly, the wholesale price index for the week put the inflation higher at 7.33 per cent, up from 7.14 per cent in the previous week. The inflation data shows that wholesale prices of the edible oils have come down.
As per the retail price data of Consumer Affairs Ministry for 17 cities, prices of groundnut oil, mustard oil and vanaspati (hydrogenated vegetable oil) rose in the range of Rs 1-10 a kg during the week.
"If the Ministry data is true, the upward surge in the retail prices of edible oils rules out any impact of price control policies taken by the government in the last few weeks," an expert said.
The government had last month made import of crude edible oils duty free and cut the duties on refined vegetable oils to increase the domestic supply and arrest the increase in prices.