Adani Wilmar management blames sharp fall in edible oil prices for Q1 losses
Adani Wilmar, the largest packaged oil maker in India, has suffered in Q1 due to a decrease in edible oil prices. CEO and managing director Mr. Angshu Mallick states that Adani Wilmar was unable to contra-hedge local oils in India, which has affected the company's hedging mechanism. Volumes are up 25%, but margins have been impacted due to a dis-alignment of hedges. The company has faced a one-time phenomenon.
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