Mustard oil prices fell by just 9 per cent after rising 75 per cent. And that’s why the Narendra Modi government claimed that the mustard oil price has decreased significantly.
Information from Union Ministry
Whatever the mouth says, the information of the Union Ministry of Food and Consumer Affairs says that on one hand, all kinds of edible oil including mustard oil and on the other hand, wheat, and flour – the prices of these two food products are keeping the Modi government in mind.
According to government statistics, mustard oil prices have come down significantly compared to last year. But recently, the price of mustard oil has decreased slightly in the wholesale market, but its price is increasing again in the retail market. Mustard oil price was Rs 167.23 per kg last October 22. On the 22nd of this month, it increased to 170.86 rupees. According to the Union Ministry of Food and Consumer Affairs, the price of mustard oil has increased marginally. Moreover, the price of that edible oil is much lower than last year. Because on November 22 last year, Mustard oil prices were over Rs 187 per kg. Opponents say the Modi government is not saying that on November 22, 2019, the price of mustard oil was just Rs 108 per kg. In two years, it increased by 75% to reach 187 rupees. Now only a 9 per cent reduction, the centre says, the price has come down.
Worry for the Modi government
Wheat price along with edible oil is a cause of worry for the Modi government. Anticipating that Russia’s war in Ukraine would raise wheat prices, private companies bought wheat from farmers at higher prices. The central government is buying very less quantity of wheat from the market. Which is less than required. Therefore, in the last few years, wheat has to be distributed from the stockpile wheat to Food Security Act, ration and other schemes. However, the Center claims that the wheat stocks are more than the minimum requirement.
Yesterday, Food Secretary Sanjeev Chopra said that Wheat prices rose just 7 per cent in May after a rush to export wheat. As a result, the government is not thinking of any new steps right now. The secretary said that the price of wheat in the market is being closely monitored. The government will take action if the prices rise to abnormal levels.
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