close
Business

Adani Wilmar Cuts Edible Oil Prices By Rs 10 After Import Duty Is Reduced


Adani Wilmar Ltd. has reduced prices of its edible oils by Rs 10 after the government cut import duty on the commodity.

A one-litre pack of Fortune refined Sunflower oil will now cost Rs 210 from Rs 220 earlier, according to a statement released Saturday. The maximum retail price of one-litre packs of Fortune Soyabean and Fortune Kachi Ghani (mustard oil) has been reduced to Rs 195 from Rs 205. The stocks with new prices will reach the market soon.

The reduction in edible oil prices comes after the central government reduced import duty, the company said in the statement.

“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,” Angshu Mallick, managing director and chief executive officer of Adani Wilmar, said in the statement. “We are confident the lower prices will also boost demand.”

International and domestic prices of edible oils rose during 2021-22 due to lower production of oilseeds and higher manufacturing and logistics costs.

Besides a range of edible oils, Adani Wilmar’s offerings include rice, atta, sugar, besan, ready-to-cook khichdi, soya chunks and others.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.





Source link