The sharp drop in oil prices comes in the wake of the central government slashing import duties on edible oils, making them cheaper.
“We pass on the benefit of lower costs to our customers, who can now expect the purest edible oils that are made to the highest safety and quality standards and are also light on their wallets. will boost demand,” said Angshu Mallick, MD & CEO, Adani Wilmar.
It can be noted that international and domestic edible oil prices rose in 2021-22 due to lower oil seed production and higher production and logistics costs. However, the reduction in import duties on crude and refined edible oils contributed to the price decline.
Adani Wilmar is one of the fastest growing FMCG companies in the country. In addition to a range of edible oils, the offering includes rice, atta, sugar, besan, ready-to-eat khichdi, soy chunks, and others.