Adani Wilmar slashes edible oil prices by Rs 10 on govt's import duty move

FMCG firm Adani Wilmar on Saturday slashed the prices of its edible oils by Rs 10 following the government's move to reduce import duties on the commodity.

Adani Wilmar has reduced the maximum retail price (MRP) of Fortune refined Sunflower oil's 1-litre pack to Rs 210 from Rs 220, the company said in a statement.

The MRP of Fortune Soyabean and Fortune Kachi Ghani (mustard oil) 1-litre packs has been reduced to Rs 195 from Rs 205.

The stocks with new prices will reach the market soon, it added.

This reduction in oil prices comes in the wake of the central government reducing the import duties on edible oils, making them cheaper, the company said.

"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. We are confident the lower prices will also boost demand," Adani Wilmar MD and CEO Angshu Mallick said.

International and domestic prices of edible oils surged 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.