Edible oil prices in India lower by 10-15%

Some of the top edible oil producers have reduced prices of edible oil. Adani Wilmar (Fortune Brands), Ruchi Soya (Mahakosh, Sunrich, Ruchi Gold, Nutrella Brands), Emami (Healthy & Tasty brands), Bunge (Dalda/Gagan/Chambal brands), Gemini (Freedom Sunflower Oil brands), COFCO (Nutrilive brand), Frigorifico Allana (Sunny Brands) and Gokul Agro (Vitalife, Mahek, Zaika brands) among others have reduced the MRP on their respective edible oil brands by 10-15 per cent. 

The Solvent Extractors’ Association (SEA) of India has claimed that several members of the association have reduced maximum retail price (MRP) on edible oils marketed by them by 10-15% to provide relief to the consumers this festive season. Atul Chaturvedi, president, SEA, said that members responded positively to the appeal made by the association to market edible oils with realistic MRP.

Last week, the association had advised its members to market edible oils with realistic MRP that the consumer needs to pay.  In a letter to the members of SEA on Wednesday, Atul Chaturvedi, president of SEA, said Sudhanshu Pandey, secretary of the department of food and public distribution, had a meeting with SEA recently to review the prices of edible oil vis-a-vis duty reduction. 

During the interaction, he had stated that the MRPs mentioned on the consumer packs are not commensurate with the reduction in import duty. Pandey said that many consumers are compelled to pay the MRP, even though the issue price of manufacturing firms are lower. “We would like to advise our members to market edible oils with realistic MRP that the consumer needs to pay, and also issue advertisement through various media in the regions of their market emphasizing the discounted price immediately,” Chaturvedi said in a letter to SEA members.

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