Edible oil firms have cut prices by 15-20%, says Food Secretary
The Hindu
‘Government reduced duty to almost zero’
In a relief for consumers, major edible oil companies, including Ruchi Soya and Adani Wilmar, have reduced the maximum retail price (MRP) of their products by about 15-20% following the measures taken by the government, Food Secretary Sudhanshu Pandey said on Thursday.
“This (edible oil prices) has been a concern for sometime and after very, very close engagement with the oil industry and very proactive measures by the government and meetings with oil industry, a very serious and significant reduction has happened,” Mr. Pandey said during a virtual conference.
During a presentation, he noted that, Ruchi Soya Industries had reduced retail prices on various oils by ₹14-₹30 per litre, Bunge India had lowered prices in the range of ₹10-₹20, Adani Wilmar, which sells Fortune brand of oils, had reduced priced by up to ₹40 and IFFCO Allana by up to ₹35.
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