Edible oil price likely to come down soon: Minister

Edible oil prices may come down soon in the local market on the back of the downturn trend in prices in the international market, Commerce Minister Tipu Munshi said.

He said"The good news is that the prices of crude edible oil started declining in the international markets. There is a possibility that the prices of edible oil would drop here too."

The minister said this at a press briefing at his secretariat office on Thursday, reports TDS. 

Within the next six or seven days, the commerce ministry will review the data on edible oil import, supply and stock in May to revise the existing prices for the domestic market, he added.