Edible oil makers have cut prices of palm oil, sunflower and soybean oil by up to 15 percent.
Edible oil makers have cut prices of palm oil, sunflower and soybean oil by up to 15 percent. The companies have done this because of the fall in the prices in the international market.
branded edible oil (Edible Oil) Manufacturing companies have cut the prices of palm oil, sunflower and soybean oil by up to 15 percent. The companies have done this because of the fall in the prices in the international market. by this Inflation This has been done to give some relief to the customers who are facing the burden of Rs. According to the Economic Times report, Sudhakar Rao Desai, president of the Indian Vegetable Oil Producers Association, said that the impact of the fall in prices is on the economy. (economy) more popular brands (Popular Brands) to feel immediately. Whereas, it will take some time for the premium brands to pass on the price cut to the customers.
Due to the fall in prices, distributors are filling their stock. Because the demand is expected to increase in the coming time. The fall in edible oil prices will also have an impact on food inflation, a major part of which comes from edible oil. In the edible oil and fat category, 13.26 percent inflation has been seen during the month of May. The biggest part of this is due to the increase in the domestic prices of edible oil in the last one year.
Palm oil prices also fall
Desai said that the prices of palm oil have come down by Rs 7-8 per litre. Whereas, sunflower oil prices have come down by Rs 10 to 15 per liter. Soybean oil prices have declined by Rs 5 per liter.
Adani Wilmar’s Managing Director Angshu Malik said that they are reducing the MRP (Maximum Retail Price) of cooking oil on the request of the government, so as to support the customers. The deduction will be according to the market trend. He told that with the new MRP, oil will reach the market by next week.
Let us tell you that Indonesia had issued new rules to implement the recently announced changes in the palm oil export tax policy. This includes reduction in the maximum levy rate to expedite slow return shipments after the end of export restrictions. Giving this information, National President of All India Edible Oil Traders Federation, Thakkar had told that the new levy rate will continue till the end of July. After reconsidering it in August, the rates can be changed.
Source: www.tv9hindi.com
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