Commodities

Adani Wilmar, Ruchi Soya on the impact

New Delhi: After shooting through the roof in the past few months on the global supply chain disruptions due to the Russia-Ukraine war, the commodity prices have now started cooling off. In a month cotton has dipped 27 percent, and wheat dropped as much as 19 percent with corn, soybeans, and sugar dipped below 5 percent each.
Meanwhile, Angshu Mallick, Chief Executive Officer and Managing Director, Adani Wilmar says the commodities prices do not impact on a day-to-day basis given the 90-day inventory rotation cycle. While speaking about the edible oil prices he says, “we have seen a 10 percent -15 percent correction in commodities and the company has reduced the MRP on edible oil. The supply and demand scenario will be in the balance going forward.” He also added that edible oil consumption is higher in H2 given the festive demand and the outlook remains positive.
On the other hand, Sanjeev Kumar Asthana, CEO, Ruchi Soya Industries Limited says supply was never an issue in oil, but we expect prices of commodities to remain lower. While speaking about the demand outlook for the FMCG sectors he says, “supply and demand scenario will be in the balance going forward and as a company, Ruchi Soya will grow better than the industry.” He also added that the key factor to watch is the US weather in terms of prices.

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