Adani Wilmar cuts edible oil prices by Rs 10
Mumbai:
Fast moving consumer goods (FMCG) firm Adani Wilmar has cut prices of its edible oils by Rs 10 following the government’s move to reduce import duty on the commodity and the edible oil variant by Mother Dairy, Dhara, in some of the slashing prices. days later Rs 15 per liter
Mother Dairy, one of the major milk suppliers in Delhi-NCR, on Thursday said it has reduced the prices of its cooking oil by up to Rs 15 per liter due to softening of prices in global markets.
Adani Wilmar has subsequently reduced the maximum retail price (MRP) of one liter pack of Fortune 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-litre pack has been reduced from Rs 205 to Rs 195.
Shares with new prices will reach the market soon.
The company said that this reduction in oil prices has come in view of the central government reducing import duty on edible oils, making them cheaper.
“We are passing on the benefit of low cost to our customers, who can now expect the purest edible oils made with the highest safety and quality standards, which are also light on their pocket. We are confident that the low prices will drive demand. will also be encouraged.” Angshu Malik, MD & CEO, Adani Wilmar said.
International and domestic prices of edible oils increased during 2021-22 due to lower production of oilseeds and higher manufacturing and logistics cost.
Apart from a range of edible oils, Adani Wilmar’s offerings include rice, flour, sugar, gram flour, ready-to-cook khichdi, soya chunks and others.
Mother Dairy, which sells its edible oil under the Dhara brand, on Thursday reduced the price of Dhara mustard oil (1 liter poly pack) from Rs 208 to Rs 193 per litre.
Dhara Refined Sunflower Oil (1 liter poly pack) will now be sold for Rs 220 per liter from the earlier Rs 235. The price of Dhara Refined Soyabean Oil (1 liter poly pack) will be reduced from Rs 209 to Rs 194.
“The Maximum Retail Price (MRP) of Dhara Edible Oils is being reduced by up to Rs 15 per liter,” Mother Dairy said in a statement.
This reduction in prices is due to recent government-led initiatives, less influence of international markets and ease of availability of sunflower oil.
The Dhara Edible Oil variant with the new MRP will hit the market by next week.
The prices of edible oil have risen in the last one year due to higher rates in the international market.
India imports about 13 million tonnes of edible oils annually to meet the domestic demand. The dependence on imports is 60 percent.