Agro commodities price drop- Growth opportunity for traders, sigh of relief for consumers
If skyrocketing commodity prices in the aftermath of Russia-Ukraine war was a reality then cooling off of commodity prices now is new reality. Within a month, noticeable dip of 27% and 19% in cotton and wheat prices has been observed respectively and same has been the case with corn, sugar and soybeans prices that have dipped by 5%. Adani Wilmer has reduced MRP on its edible oil on account of 10-15% correction in prices says Adani Wilmer CEO Angshu Malik.
Sanjeev kumar asthana, CEO of another edible oil giant Ruchi Soya seconds Malik and forecasts that edible oil prices will be on the lower side in global market. CEOs of both Adani Wilmer and Ruchi Soya sound upbeat anticipating better business prospects in edible oil market on account of lowering prices. Drop in edible oil prices is not only good news for agro commodities companies but sigh of relief for consumers too.