Edible Oil Prices

PM Modi Suggests 10% Cut in Edible Oil Prices: Will It Really Benefit Middle-Class Kitchens?

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Prime Minister Narendra Modi advised people to avoid obesity in ‘Mann Ki Baat’ on Sunday. He said that reducing edible oil consumption by 10% can help prevent obesity to a great extent. PM Modi also mentioned that obesity cases have doubled in recent years. After his advice, the shares of edible oil companies saw a reaction on Monday.

Impact on Oil Company Shares

1. Adani Wilmar Ltd

This company produces edible oil under the brand name Fortune. On Monday, its stock rose by about 1%, reaching RS 262.95. The Adani Group has announced plans to exit Adani Wilmar. In the last month, the stock has gained more than 4%, but it remains far below its 52-week high of RS 408.70.

2. Patanjali Foods Ltd

Baba Ramdev’s company also sells edible oil. On Monday, its stock declined by 1.51%, closing at RS 1829.65. Over the last month, there has been negligible growth in its stock. Its 52-week high is RS 2030, meaning the stock is still below its peak level.

3. Marico Ltd

Marico sells edible oil under the Saffola brand. On Monday, its stock dropped by 0.49%, closing at RS 621.35. Over the last month, it has fallen by nearly 7% and remains below its 52-week high of RS 736.10.

4. ITC Ltd

ITC sells edible oil under the Sunrise Pure brand. On Monday, its stock rose slightly by 0.21%, closing at RS 401.85. However, in the last month, it has declined by about 9%. The stock remains significantly below its 52-week high of RS 500.

Will It Really Benefit Middle-Class Kitchens?

PM Modi has suggested a 10% reduction in edible oil prices to help combat rising obesity levels. This move is expected to have a significant impact on middle-class kitchens, where edible oil is a staple ingredient. While the price cut could ease the financial burden on households, questions remain about its long-term effect on oil companies and consumer habits. The reduction may lead to lower grocery bills, but its impact on the overall market and cooking preferences will unfold over time.

About the Author

Avijit Das

A sports journalist driven by passion and dedication, I seamlessly blend my love for writing and sports. Currently with Timesbull, I have honed my craft at Sportskeeda, Cricreads, and Athlete Fortune. I live and breathe sports—whether it's football, cricket, cards, or chess, I'm always up for a challenge. A die-hard...

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AvijitDas@tb.com Author at TimesBull TimesBull
A sports journalist driven by passion and dedication, I seamlessly blend my love for writing and sports. Currently with Timesbull, I have honed my craft at Sportskeeda, Cricreads, and Athlete Fortune. I live and breathe sports—whether it's football, cricket, cards, or chess, I'm always up for a challenge. A die-hard football fan, proud Madridista, and loyal Juventus Tifoso, I have turned my passion into my profession. For me, sports aren't just entertainment; they are a way of life and a story worth telling every day. For inquiries, contact me at timesbull@gmail.com.
Avijit Das - Author at TimesBull
About the Author

Avijit Das

Avijit Das - Author at TimesBull

A sports journalist driven by passion and dedication, I seamlessly blend my love for writing and sports. Currently with Timesbull, I have honed my craft at Sportskeeda, Cricreads, and Athlete Fortune. I live and breathe sports—whether it's football, cricket, cards, or chess, I'm always up for a challenge. A die-hard...

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