Firms Start Slashing Prices of Edible Oils Post Duty Cut

Prices May Drop by 5-7% in Coming Weeks

- SANDIP DAS & VIVEAT SUSAN PINTO

AFTER THE IMPORT duty on crude edible oil was slashed last month, companies have started to pass on the benefit of lower tariffs to consumers, and retail prices are likely to fall by 5-7% in the next few weeks, industry sources said.

The maximum retail price (MRP) of 'Dhara' brand of soybean oil has been reduced by ₹10/litre, according to a spokesperson of Mother Dairy.

The selling price of sunflower oil has been reduced by ₹5/litre, though its MRP remains unchanged as it was not revised upward during earlier price increases, the spokesperson said.