Emami Agrotech passes on benefits of input cost cuts to consumers

economictimes.indiatimes.com:

Emami Agrotech, the edible oil and food-manufacturing arm of Emami Group has passed on the benefits of the drop in global oil prices to its consumers by lowering the MRP on its popular edible oil brands Emami Healthy & Tasty and Himani Best Choice by 35-40% over a period of 12 months since July,2022 consistently, the company said in a media release issued on Thursday. 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 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.

Over the last year, the drop in MRP has been in the range of 35-40% which brought the much-needed relief to the consumers.” “In the domestic front, the Indian mustard crop output has increased by about 10% which again helped to stabilise the prices of the popular Mustard oil which was selling at a peak price-to-consumer of Rs 200 per litre and is currently down to about Rs 130 – 140 / litre. With the international prices of imported edible oils continuing to show a downward trend, consumption is likely to go up further in the next few months, especially during the upcoming festivals in the months of September and October.” Desai added.