The government on Friday directed the edible oil industry to cut retail prices of the essential commodity by Rs 8 to Rs 12 with immediate effect in the light of the fact that international rates have sharply fallen in the last two .
Price to distributors by the manufacturers and refiners also needs to be reduced with immediate effect so that the price drop is not diluted in any way, says the food ministry
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The Centre on Friday directed edible oil associations to further reduce the maximum retail price (MRP) of major edible oils by Rs 8-12 per litre with immediate effect, in line with the global market.