India asks trade bodies to cut edible oil prices

MUMBAI, July 8 (Reuters): 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.

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.