The Indian Vegetable Oil Producers’ Association (IVPA) has asked its members to bring down retail edible oil prices. In a media statement dated 5 October 2026, president Sudhakar Desai called on manufacturers to hand the full gain from the government’s latest import duty reductions to consumers. Members must also send revised retail price lists to the government each week, allowing prices to be tracked openly, media reports stated.
The appeal comes after the central government cut basic customs duties on crude and refined edible oils from 24 September 2026. The step was meant to cool inflation, which reached 4.8% in August 2026 as global oil markets swung unpredictably.
In crude sunflower oil, customs duties have been lowered from 10% cut to zero, in crude palm and soybean oil, it has been lowered from 10% to 5%, and then 22.5% from 32.5% in refined sunflower oil and in refined palm and soybean oil, the duty has been cut from 32.5% to 27.5%.
Cooking oil consumption surges from September to November, driven by home kitchens, sweet and snack producers, food processors, and the hotel, restaurant and catering trade. Cheaper landed imports should steady the domestic refining sector and offer families quick relief during the festive period.
Desai explained that international edible oil prices have stayed elevated because of geopolitical tensions, adverse weather, and tighter supplies, with more vegetable oil being channeled into biofuel production. These pressures, he said, have worsened domestic inflation and squeezed household finances, so the duty cut should provide meaningful relief to buyers.
He said the association has written to members, asking them to lower retail prices in proportion to the duty cuts and to submit weekly price lists to the government.
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Naresh Khanna – 10 February 2025
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