During 2021-22, edible oil prices were upward due to geopolitical factors like Indonesian bans, Ukraine war, and supply disruptions. However, since mid-June 2022, prices have fallen. In view of this, the Government of India has reduced import duties to 5.5% and implemented stock controls to regulate consumer prices. To provide consumers with the benefits of these lower global oil prices.
Emami Agrotech Ltd, the edible oil and food-manufacturing arm of Emami Group lowered the MRP on its popular edible oil brands Emami Healthy & Tasty and Himani Best Choice by 35-40% since July 2022 consistently. The Company monitors the MRP changes across the popular consumer pack of 1-litre pouch for the mustard, soyabean, rice bran, and sunflower variants of Healthy & Tasty along with that of soyabean and palmolein variants of Himani Best Choice.
Commenting on this, Mr. Sudhakar Desai, CEO, Emami Agrotech Ltd said, “India imports about 56% of its annual edible oil consumption of 24-25 Million Tonne (MT). Over the last 12 months, there has been a significant drop in global prices. In view of this correction in commodity prices, as a responsible corporate, we have been cutting our prices consistently for all our oils like soyabean, palm oil, and sunflower.