cooking oil
Due to increased demand of large edible oil mills of Kachi Ghani and less arrival in the markets due to rain, the prices of groundnut oil-oilseeds, soybean oil, crude palm oil (CPO) and palmolein and cottonseed oil improved in the country’s oil-oilseeds markets on Saturday, led by mustard oil-oilseeds. While the prices of soybean oilseeds closed showing a decline. Market sources said that due to rain, the arrival of crops of soybean, groundnut and cottonseed etc. will be delayed, due to which there is a situation of short supply in the market. It also takes 50-60 days to import soybean. Secondly, the price of palmolein is 60 dollars per ton higher than soybean in wholesale and at such a high price, one will also order less palmolein oil, which takes relatively less time to import. In view of this situation, the situation of short supply will remain for the time being.
Sunflower production is declining
While the price of soybean oil is improving due to short supply, the price of soybean oilseed fell due to weak demand for export of soybean de-oiled cake (DOC) at high prices. Sources said that the government has been increasing the MSP of sunflower for the last 10 years to increase the production of sunflower. But due to lack of market for it, the production of sunflower is decreasing instead of increasing. Even if the government buys sunflower at MSP, it has to sell it at a lower price later and due to the dependence of sunflower farmers on the government for the consumption of sunflower, they gradually left sunflower cultivation. Because the sunflower crushing mills used to get less price than the cost of sunflower oil after crushing, that is, they suffer loss. The cost of sunflower oil after crushing is about Rs 150 per liter and the price of this oil in loose form in the market is Rs 85-90 per liter. When the market of any oil is not developed, then there will be no benefit of government purchase.
New MSP of soybean is Rs 4,892 per quintal
Similarly, even if the government buys the entire soybean crop, it will not be of any benefit. Unless the prices of soybean DOC are competitive for export, soybean DOC will not be sold. To increase its export, the government will have to consider giving subsidy. The new MSP of soybean is Rs 4,892 per quintal and buyers are hardly available even at the price of Rs 4,200-4,400 per quintal in loose. Due to the demand and low arrival, there was improvement in groundnut oil-oilseeds. Due to short supply, the prices of CPO and palmolein also remained strong. Due to negligible supply with increased demand, the price of cottonseed oil also improved.
The prices of oilseeds were as follows:
Mustard Oil Seeds – Rs 6,310-6,350 per quintal. Groundnut – Rs 6,700-6,975 per quintal. Groundnut Oil Mill Delivery (Gujarat) – Rs 15,850 per quintal. Groundnut Refined Oil Rs 2,385-2,685 per tin. Mustard Oil Dadri – Rs 12,525 per quintal. Mustard Pakki Ghani – Rs 2,010-2,110 per tin. Mustard Kachi Ghani – Rs 2,010-2,125 per tin. Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal. Soybean Oil Mill Delivery Delhi – Rs 10,625 per quintal. Soybean Mill Delivery Indore – Rs 10,225 per quintal. Soybean Oil Degum, Kandla – Rs 8,850 per quintal. CPO ex-Kandla – Rs 9,425 per quintal. Cottonseed Mill Delivery (Haryana)- Rs. 10,450 per quintal. Palmolein RBD, Delhi- Rs. 10,650 per quintal. Palmolein ex-Kandla- Rs. 9,850 (without GST) per quintal. Soybean grain- Rs. 4,740-4,770 per quintal. Soybean loose- Rs. 4,540-4,675 per quintal. Maize bran (Sariska)- Rs. 4,200 per quintal.
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