Adani Wilmar reduced its edible oil prices upto ₹30 per liter. The new prices are the result of the global price reduction for oils. The revised prices and new rates will reach the market soon.
Adani Wilmar is the largest oil-producing company in the country. On July 18 it cut down its prices for various edible oils, the highest drop is ₹30 per litre on Soyabean oil. Last month the company reduced the oil prices and now the prices are reduced further as the global prices are reduced. This helps in the Government’s efforts to ease tensions regarding the oil prices. The prices are reduced for groundnut oil, soyabean oil, sunflower oil, mustard oil, palmolein oil, rice bran oil, and Vanaspati.
The price for groundnut oil is reduced to ₹210 from ₹220 per liter, showing a reduction of ₹10. For Soyabean oil the new price is ₹165 per liter which was earlier at ₹195 per liter. This is recorded as the highest reduction, at ₹30. Sunflower oil was earlier available for ₹210 per liter but now is cut down to ₹199 per liter. Mustard oil price is reduced by ₹5 resulting in the new price being ₹190 which was initially ₹195. The drop in Palmolein oil price is also very high. The price has been reduced from ₹170 per liter to ₹144 per liter. For rice bran oil, the new price is ₹210 per liter reduced from ₹225 per liter. The new price of vanaspati is ₹185 which was ₹200 earlier.
Angshu Mallik, the CEO and MD of Adani Wilmar stated that even though the prices are reduced it will not hamper the quality of their product. The company will continue to use high-quality raw materials and ensure the consistent quality of its products. These prices will ease the tension of rising prices on the consumers. Especially for the festive season with these prices the demand will be boosted.
The oil prices have certainly been a big concern for the government as well as for the global economies. With the slow decline in prices, it will gradually reduce the pressures as well as not affect the manufacturers on a large scale.
The new prices will reach the market soon as informed by the company and the government is still making efforts to make it more affordable and at the same time help the oil-producing companies.
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