Edible oil brands lower MRP by 10-15% to give relief to Consumers

The Solvent Extractors’ Association (SEA) of India claims that some of its members have decreased the maximum retail price (MRP) on edible oils they market by 10-15% to help customers during the festive season. Members responded enthusiastically to the association’s appeal to promote edible oils with realistic MRP, according to Atul Chaturvedi, president of SEA.

The Top members including Adani Wilmar (Fortune Brands) Ruchi Soya (Mahakosh, Sunrich, Ruchi Gold, Nutrella Brands), Emami (Healthy & Tasty brands), Bunge (Dalda/Gagan/Chambal brands), Gemini (Freedom Sunflower Oil brands), COFCO (Nutrilive brand), Frigorifico Allana (Sunny Brands) and Gokul Agro (Vitalife, Mahek, Zaika brands) among others have reduced the MRP on their respective edible oil brands, he said.

The group recommended its members last week to promote edible oils with a realistic MRP that the consumer must pay. Sudhanshu Pandey, secretary of the department of food and public distribution, met with SEA recently to examine the prices of edible oil in light of duty reduction, according to Atul Chaturvedi, president of SEA, in a letter to SEA members on Wednesday.

During the conversation, he remarked that the MRPs on consumer packs are not proportionate with the import duty drop. Many consumers, according to Pandey, are forced to pay the MRP despite the fact that manufacturing businesses’ issue prices are lower.

“We would want to advise our members to market edible oils with actual MRPs that the consumer must pay, as well as release advertisements through various media in their market regions stressing the discounted pricing immediately,” Chaturvedi wrote in a SEA letter.