Adani Wilmar discounts cooking oil by Rs 10
Mumbai:
Adani Wilmar, a FMCG company, has reduced the price of cooking oil by Rs 10 after the government’s move to reduce import tax on this item and a few days after Mother Dairy lowered the price of its cooking oil variant. , the price of Dhara is reduced by Rs 15 per liter.
Mother Dairy, one of the leading dairy suppliers in Delhi-NCR, on Thursday said it has reduced the price of its cooking oil by Rs 15 per liter, due to the softening rate in the global market.
Accordingly, Adani Wilmar has reduced the maximum retail price (MRP) of a 1-liter pack of Fortune’s refined Sunflower oil to Rs 210 from Rs 220, the company said in a statement.
Fortune Soyabean and Fortune Kachi Ghani (mustard oil) 1-litre packages have been reduced from Rs 205 to Rs 195.
Newly priced shares will be on the market soon, it added.
This drop in oil prices comes after the central government reduced import duties on cooking oils, making them cheaper, the company said.
“We are transmitting the benefits of cost reduction to our customers, who can now expect the purest cooking oils produced to the highest quality and safety standards, while also conforming to with their pockets. We’re confident that lower prices will also boost demand.” Adani Wilmar MD and CEO Angshu Mallick said.
International and domestic cooking oil prices increased sharply in the period 2021-22 due to reduced oilseed production and higher production and logistics costs.
Besides a wide range of cooking oils, Adani Wilmar’s dishes include rice, oil, sugar, besan, pre-cooked khichdi, soybean blocks and others.
On Thursday, Mother Dairy, which sells cooking oils under the Dhara brand, lowered the price of Dhara mustard oil (1 liter poly pack) from Rs 208 to Rs 193 per liter.
Dhara Refined Sunflower Oil (1 liter poly pack) will be sold for Rs 220 from Rs 235 per liter previously. The price of Dhara Refined Soybean Oil (1 liter poly pack) will drop from Rs 209 to Rs 194.
“The maximum retail price (MRP) of Dhara cooking oil is being reduced by up to Rs 15 per liter across variants,” Mother Dairy said in a statement.
This price reduction is due to recent government-led initiatives, reduced international market impact and ease of availability of sunflower oil.
“Dhara cooking oil variants with the new MRP will go on sale next week,” it said.
The price of cooking oil has increased in the past year due to the high exchange rate in the international market.
India imports about 13 million tons of cooking oil annually to meet domestic demand. The level of import dependence is 60%.
