India asks trade bodies to cut edible oil prices by 15rs/litre

India has asked trade bodies to reduce edible oil prices by 15 rupees per litre immediately because prices in the world market have fallen sharply, the government said in a statement.

The world's biggest importer of vegetable oils directed trade bodies to quickly pass on the reduction in global prices to end-consumers.

ALSO READ -- Why India ramped up Russian oil imports, easing pressure on Moscow

India buys palm oil mainly from Indonesia, Malaysia and Thailand, while soyoil is mainly sourced from Argentina, Brazil and the United States. India imports sunflower oil from Ukraine and Russia.