Palm oil producers scramble to slash prices as futures drop

In Southeast Asia, amidst dropping palm oil futures, branded edible oil producers will soon cut prices by at least 10 percent. Companies expected to make the slash include Cargill India, Adani Wilmer, and Ruchi Soya.

To keep margins intact, Saraiwwalaa Agrr Refineries has decided to build inventory to sell on a rebound, said managing director Ravinder Kumar Gupta. With a 3.04 per cent weightage in the price index, the decline in edible oil will provide relief to the government, trying to keep food inflation under control.