There will be some more downside and then a little bit of stabilisation in edible oil prices, said Adani Wilmar’s Atul Chaturvedi as he decoded the demand and fall in edible oil prices in an interview with CNBC-TV18.
“I had said that when the markets go up, they go up in an elevator and when they come down, they come down in a shaft. That is exactly what seems to be happening. Markets in the last two days have practically collapsed by about 15-18 percent. This will help the government take a decision of not talking or even contemplating reduction of the duties,” he said.
According to Chaturvedi, at the retail level, the price reflection starts to reflect after about 10-12 days once the new supplies come in.
“So my take is at this point in time, there will not be too much reaction at the retail level but in about 10-15 days you could see the retail prices also coming down and the consumers breathing a sigh of relief,” he said.
For the full interview, watch the accompanying video.
(Edited by : Kanishka Sarkar)
First Published: IST