Adani Wilmar slashes edible oil prices

Edible oil company Adani Wilmar, which sells its products under the brand name Fortune, announced on Monday a deduction in cooking oil rates by up to Rs 30 per litre amidst fall in global prices.The maximum deduction has been done in soyabean oil. The stocks with new rates will reach the market soon.

Fortune rice bran oil rate has been revised downwards to Rs 210 per litre from Rs 225 per litre, while the MRP of groundnut oil has been reduced to Rs 210 per litre from Rs 220 per litre.

The food ministry had conducted a meeting on 6th July to discuss edible oil prices and directed edible oil companies to pass on the benefits of fall in international cooking oil prices to buyers.

On 7th February, Mother Dairy, which sells edible oils under the brand name Dhara, had reduced prices of rice bran and soyabean by up to Rs 14 per litre.

A company in its statement, “In continuation to the global price reduction and the government’s effort to pass on the benefits of reduced edible oil prices to consumers, Adani Wilmar has further slashed edible oil prices from the last month’s reduction affected by the company”. Fortune soyabean oil rates have been changed to Rs 165 per litre from Rs 195 per litre.

The sunflower oil price has been changed to Rs 199 per litre from Rs 210 per litre. Mustard Oil MRP (maximum retail price) has been reduced up to Rs 190 per litre from Rs 195 per litre.

The rate of Raag vanaspati has been cut down to Rs 185 per litre from Rs 200 per litre and that of Raag palmolein oil to Rs 144 per litre from Rs 170 per litre.

Adani Wilmar is one of the fastest-growing FMCG firms in the nation. Besides a range of edible oils, its products include atta, rice, sugar, soya chunks, besan, ready-to-cook khichdi, and many others.The abrupt deduction in oil rates comes in the wake of international prices falling sharply, the company said.

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