In the midst of rising inflation, relief news has come out for the common people. The price of cooking oil has been cut by Rs 30 per litre. The price of edible oil has been cut by Adani Wilmar, a company of Adani Group. Adani’s company has decided to reduce the price of oil by Rs 30 per liter due to the fall in global prices on Monday.
After the announcement of a reduction of Rs 30 per liter, now the price of Rs 195 per liter of oil has gone up to Rs 165 per litre. Adani Wilmar’s soybean oil has seen the biggest reduction. Earlier, 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 liter.
Now the price of Fortune soybean oil has been revised from Rs 195 per liter to Rs 165 per litre. At the same time, the price 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.
Fortune rice bran oil price has been reduced from Rs 225 per liter to Rs 210 per liter, while MRP of groundnut oil has been reduced from Rs 220 per liter to Rs 210 per litre. On the other hand, the price of Raga Vanaspati has been reduced from Rs 200 per liter to Rs 185 per liter and Raga Palmolein oil from Rs 170 per liter to Rs 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 newly priced stocks will hit the market soon. The company said that in view of the sharp fall in global prices, the oil prices have come down drastically. Significantly, the Food Ministry had called a meeting on July 6 to discuss edible oil prices and directed edible oil companies to reduce global cooking oil prices.
Adani Wilmar is one of the fastest growing FMCG companies in the country. In addition to a range of edible oils, its offerings include rice, flour, sugar, gram flour, ready-to-cook khichdi, soya chunks and other items.