The biggest reduction has been made in soybean oil.
The biggest reduction has been made in soybean oil.
Edible oil firm Adani Wilmar, which sells its products under the Fortune brand, on Monday announced a reduction in cooking oil prices by up to Rs 30 per liter amid fall in global prices.
The biggest reduction has been made in soybean oil. Shares with new prices will reach the market soon.
Mother Dairy, which sells edible oils under the Dhara brand, had on February 7 cut soybean and rice bran oil prices by up to Rs 14 per litre.
The Food Ministry had convened a meeting on July 6 to discuss edible oil prices and directed edible oil companies to pass on the benefits of the fall in global cooking oil prices to consumers.
A company statement said, “In line with the government’s effort to reduce global prices and pass on the benefits of reduction in edible oil prices to consumers, Adani Wilmar has decided to reduce the prices of edible oil from the last month’s cut by the company. And there’s a shortage.”
Fortune soybean oil price has been revised from Rs 195 per liter to Rs 165 per litre.
The rate of sunflower oil has been revised from Rs 210 per liter to Rs 199 per litre.
MRP (maximum retail price) of mustard oil has been reduced from Rs 195 per liter to Rs 190 per litre.
The price of Fortune rice bran oil has been reduced from Rs 225 a liter to Rs 210 a liter, while the MRP of groundnut oil has been reduced to Rs 210 a liter from Rs 220 a litre.
The price of Raga Vanaspati has been reduced from ₹200 per liter to ₹185 per liter and that of Raga Palmolein oil from ₹170 per liter to ₹144 per litre.
Angshu Malik, MD & CEO, Adani Wilmar said, “We have passed on the benefit of reduction in global prices to our consumers and the new priced stocks will hit the market soon.”
“Our products… will be available to our consumers at affordable prices. This move will definitely boost the demand for the upcoming festive season,” he added.
The company said that in view of the sharp fall in global prices, the oil prices have come down drastically.
Adani Wilmar is one of the fastest growing FMCG companies in the country. Apart from a range of edible oils, its offerings include rice, flour, sugar, gram flour, ready-to-cook khichdi, soya chunks and others.