NE BUSINESS BUREAU
AHMEDABAD, DEC 30
With oilseed prices coming down a fortnight ahead of Makar Sankranti Festival, Adani Wilmar, the largest edible oil producer in the country, has slashed edible oil prices by around 15%, says a senior official of the company.
Adani Wilmar has reduced the MRP of Fortune refined sunflower oil’s 1-litre pack from Rs. 175 to Rs. 150 and MRP of soyabean oil1-litre pack from Rs 185 to Rs 155. Similarly, the MRP of Fortune kachi Ghani (mustard oil) from Rs. 237 to Rs. 195, and that of Fortune cottonseed oil from Rs. 180 per litre to Rs. 155.
The steep reduction in oil prices comes in the wake of the central government reducing the import duties on edible oils, making them cheaper. Moreover, oilseed prices have also declined in the domestic market following higher production.
“We are passing on the benefit of the reduced cost to our customers, who can now expect purest edible oils made with highest safety and quality standards which are also light on their pockets. We are confident the lower prices will also boost demand,” said Angshu Mallick, MD & CEO, Adani Wilmar.
It may be noted that international and domestic prices of edible oils surged during 2021-22 due to lower production of oilseeds and higher manufacturing and logistics cost. However, reduction in import duty on crude and refined edible oils, and good oilseed production in the latest season have contributed to the cooling of the prices.
Adani Wilmar is one of the fastest-growing FMCG companies in the country. Besides a range of edible oils, its offerings include rice, atta, sugar, besan, ready-to-cook khichdi, soya chunks, and others.
