Centre forms committee to monitor to track essentials as prices sky-rocket

New Delhi, May 02: The Centre has formed an inter-ministerial committee to monitor domestic prices, shipments and availability of agricultural commodities, especially edible oil.

This has been done in the wake of the higher fertiliser and global commodity rates sending domestic food prices soaring, a Hindustan Times report citing an official said.

The committee is headed by Union Food Secretary Sudhansu Pandey. The committee reviewed the availability of edible oils in the country and also met with representatives of the major oil processing associations.

A statement by the Food Ministry said that the Centre is keeping close watch on prices of edible oils so that appropriate measures can be taken to keep a check on the prices.

The prices of edible oils have remained elevated due to global supply disruptions and this has led to household budgets being disrupted. The committee is also assessing domestic output, demand, global prices and international trade volumes, the report also said.

Special teams have also been formed to crack down on hoarding and profiteering under the Essential Commodities Act. Surprise checks are being conducted on edible oil processors and traders.