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Major edible oil brands cut MRP by 10-15% to give relief to consumers: SEA

New Delhi,  Major edible oil companies, including Adani Wilmar and Ruchi Soya, have reduced the maximum retail price (MRP) of their products by 10-15 per cent to provide relief to consumers, industry body SEA said on Monday.

The prices have been reduced by Adani Wilmar (on Fortune brands), Ruchi Soya (Mahakosh, Sunrich, Ruchi Gold and Nutrella brands), Emami (Healthy & Tasty brands), Bunge (Dalda, Gagan, Chambal brands) and Gemini (Freedom sunflower oil brands), it said.

COFCO (Nutrilive brands), Frigorifico Allana (Sunny brands), Gokul Agro (Vitalife, Mahek and Zaika brands) and others have also reduced prices, it added.

“We are happy to share that our leading members have responded proactively and reduced MRP on edible oils marketed by them, across the board by 10-15 per cent to provide relief to consumers during the festival season,” Solvent Extractors Association of India (SEA) said in a statement.

With a view to providing succour to consumers, Union Food Secretary Sudhanshu Pandey had called a meeting of industry leaders a few days back and requested them to respond positively to the reduction in import duties which the government had announced, it added

According to the SEA, India’s dependence on import of edible oils is nearly 65 per cent of the total consumption of about 22-22.5 million tonne. The country imports 13-15 million tonne to bridge the gap between demand and domestic supply.

For the last two marketing years (November to October), due to the pandemic, the imported quantity reduced to nearly 13 million tonne. PTI