Adani Wilmar cuts edible oil prices by Rs 10
Bombay:
Adani Wilmar, Fast Moving Consumer Goods (FMCG) company, cut the prices of its edible oils by Rs 10 after the government’s decision to cut tariffs on the commodity and a few days after Mother Dairy released the edible oil variant lowered, the prices of Dhara fell by Rs 15 per litre.
Mother Dairy, one of the leading milk suppliers in Delhi-NCR, had said on Thursday that it has cut the prices of its cooking oil by up to Rs 15 per liter amid easing rates in global markets.
After that, Adani Wilmar lowered the maximum selling price (MRP) of Fortune’s 1-litre package of refined sunflower oil from Rs 220 to Rs 210, the company said in a statement.
The MRP of Fortune Soyabean and Fortune Kachi Ghani (mustard oil) 1 liter packs has been reduced to Rs 195 from Rs 205.
The stocks with new prices will hit the market soon, it added.
This cut in oil prices comes in the wake of the central government slashing tariffs on edible oils, making them cheaper, the company said.
“We pass on the benefit of lower costs to our customers, who can now expect the purest edible oils made with the highest safety and quality standards, while also being light on their wallets. will boost demand,” Adani Wilmar MD and CEO Angshu Mallick said.
International and domestic edible oil prices rose in 2021-2022 due to lower oil seed production and higher production and logistics costs.
In addition to a range of edible oils, Adani Wilmar’s offerings include rice, atta, sugar, besan, ready-to-eat khichdi, soy chunks, and others.
On Thursday, Mother Dairy, which sells its edible oils under the Dhara brand, cut the price of Dhara mustard oil (1 liter polypack) from Rs 208 to Rs 193 per liter.
Dhara refined sunflower oil (1 liter polypack) will now be sold for Rs 220 from Rs 235 per liter previously. The amount of refined soybean oil from Dhara (1 liter polypack) will drop from Rs 209 to Rs 194.
“The maximum selling prices (MRP) of edible oils from Dhara will be reduced by up to Rs 15 per liter for all variants,” Mother Dairy said in a statement.
This price drop is due to recent government-led initiatives, reduced impact from international markets and easy availability of sunflower oil, it added.
“Dhara variants of edible oil with the new MRP will hit the market next week,” it said.
Edible oil prices have risen over the past year due to high tariffs on the international market.
India imports about 13 million tons of edible oils annually to meet domestic demand. The import dependency is 60 percent.
