Cargills taking a hit to bring down COL

Despite July inflation hitting 17.6%, Cargills says it’s continuing against the tide with its Cargills Food City Best Buy offer giving consumers ‘amazing’ discounts on a host of essential commodities.

It has slashed prices of 23 essential commodities.

The new offer valid from August 9 to September 9 has introduced unprecedented discounts to 23 essential commodities, including the lowest price offer for 15 items.

Among the discounted items, the price slash on milk powder is noteworthy, the company said.

Ranjit Page, Cargills CEO said there is a severe shortage of milk powder in the world market due to the impact of climate change etc, and as a result, prices are rising globally.

“But we have taken a hit on our profitability to reduce Highland Milk Powder by Rs.10 and this is the lowest price on offer in the market,” he added.

Cargills is also offering the lowest market price for Prima Chicken, reducing its price by Rs.26 while other meat products have also been slashed.