Mother Dairy, a leading milk supplier in Delhi-NCR, has announced to cut MRPs of soyabean and rice bran oils by up to Rs 14 per litre on Thursday.
The leading milk supplier in Delhi-NCR, Mother Dairy on Thursday announced to cut the edible oil prices of soybean and rice bran oils by up to ₹14 per litre.
This announcement comes a day after the government directed the firms to pass on the benefits of a fall in global cooking oil prices to consumers. Mother Dairy sells edible oils under the Dhara brand.
“Passing on the benefits of the government’s intervention subsequently to the consumers, we have further reduced the MRP of Dhara Soyabean Oil and Dhara Ricebran Oil by up to Rs 14 per litre, which will be available in the market by next week,” according to a company spokesperson.
Dhara Refined Soybean Oil (Poly Pack) will now cost ₹180 per litre compared to the current price of ₹194 per litre.
The cost of Dhara Refined Ricebran Oil (Poly Pack) will drop to ₹185 from ₹194 per litre. The company also expects a reduction in MRP of sunflower oil in the next 15-20 days.
On June 16, Mother Dairy had reduced prices of its cooking oils by up to ₹15 per litre with a reduction of the edible oil prices in global markets.
On July 6, the government issued a directive to edible oil producers asking them to cut the MRP of imported cooking oils by up to ₹10 per litre within a week and maintain a steady MRP of the same brand of oil across the country. This instruction came after a drop in international prices.
After meeting with officials of the food ministry on Wednesday, edible oils producers decided to reduce their prices by between ₹10-12 a litre in view of decline in global prices and the recent import tax cut.
Revisions to retail prices will go into effect within the next 7 to 10 days, according to major manufacturers including Adani Wilmar and Ruchi Soya.
As per a report by the department of consumer affairs, modal retail prices of edible oils such as mustard, soya, sunflower and palm oil, have seen a decline in the range of 5-11% in the domestic market since June 1.
