Price of edible oil in correction, says DoCSM

Kathmandu, January 13

Traders have started reducing the price of edible oil, which had started to sky-rocket immediately after the border blockade due to scarcity of the commodity.

Some business groups, like KL Dugar, had hiked the price of edible oil rampantly by capitalising on the dire situation.

The Department of Commerce and Supply Management (DoCSM) has said that the price is gradually returning to normal due to proper market monitoring and adequate supply.

“Action taken against those involved in the ill-practices has supported in maintaining order in the market,” according to the statement issued by the DoCSM.

The price of edible oil has been brought down by as much as 25 to 40 per cent at present when compared to the price in the month of mid-October to mid-November, according to the department.