Oils and fats inflation in India stood at 0.150% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q2 2023, GlobalData monitored the pricing of 380 oils and fats SKUs from companies such as Borges, Health 1st and Del Monte that were sold by e-retailers. Buy the report here.

Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Big Basket offered the lowest prices of the total SKUs within the oils and fats category from April through June 2023, followed by Natures Basket and Jiomart. According to the analysis, the price range of $5 and below was the most competitive, with 167 SKUs.

The chart below illustrates price leadership among the covered retailers which offer the highest number of low-priced products in the category. Of all retailers, Big Basket had the greatest share of lowest prices for individual SKUs in oils and fats in India in Q2 2023.

Analysis of the quarterly price data showed that Big Basket offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed extra virgin; olive and extra light; olive as the most popular (by number of SKUs) oils and fats variants. These were priced 84.24% higher than the average price of a oils and fats SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Big Basket, Natures Basket, Jiomart, and . According to the analysis, Jiomart had the lowest average unit price, while the retailer with the widest product assortment was Big Basket.

The report brings attention to the intricate pricing dynamics within the oils and fats market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Big Basket, Natures Basket and Jiomart stood out as prominent e-retailers, providing competitive pricing for a substantial number of oils and fats SKUs. However, to comprehensively grasp the oils and fats market in India, continuous tracking of SKU pricing over time is necessary.

For a more detailed analysis of pricing trends in the India's oils and fats market, buy the report here.

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