mustard oil
Due to continued selling by the cooperative organization, NAFED, the prices of mustard oil and oilseeds closed with a decline in the wholesale oil-oilseeds market of Delhi on Saturday. Whereas last night the price of soybean oil remained strong due to the Chicago Exchange being stronger by more than two percent. The prices of all other oils-oilseeds (groundnut oil-oilseeds, soybean oilseeds, CPO and palmolein) and cottonseed oil closed at the previous level. Market sources said that after the government’s decision to increase the import duty on cheap imported edible oils, the mustard which was stored with NAFED for the last three years is being consumed otherwise it was bound to get spoiled. Due to this, farmers got good prices and work started in the crushing mills of the country.
decline in peanut oil
Those who were fearing a huge increase in the prices of edible oil due to the increase in duty, will be surprised to know that after the increase in duty, the price of mustard oil has increased by only Rs 10 per litre. On the other hand, the price of the most expensive sold groundnut oil has decreased by Rs 5-7 per litre. But due to this, the closed mills of the country started functioning and the farmers benefited. In Rajasthan, groundnut oil is being sold at a cheaper wholesale price than mustard oil and imported oils. He said that the price of edible oils has not increased in the last 15 years, due to which the country’s oilseed production has also not increased. In case of abnormal situation due to increase in production in the country, the situation can be dealt with by various measures. But when there will be dependence on imports for edible oils, it will not be easy to control it. For this reason, self-reliance in the matter of oil and oilseeds production is very important, because for this the country has to bear huge foreign exchange expenses.
Slight rise in soybean oil
Sources said soybean oil prices improved as the Chicago Exchange closed more than two percent higher last night. But due to high price affecting the demand of De-oiled Cake (DOC), the prices of soybean oilseeds remained at the previous level. Groundnut oil and oilseeds remained at the previous level amid arrival of groundnut reaching around 2.5 lakh bags and less selling due to moist goods. Due to low demand during the cold season, the prices of CPO and palmolein oil remained at the previous level. However, the future trend of palm and palmolein will be known when the Malaysia Exchange opens on Monday. Sources said that soybean crop is still being sold at 5-7 percent below the Minimum Support Price (MSP), groundnut crop at 5-7 percent below the minimum support price (MSP) and sunflower oil at 20 percent below the price. There is a need to research this also, mere reduction in wholesale prices will not bring any change in the situation.
The prices of oil and oilseeds were as follows:
Mustard oilseeds – Rs 6,475-6,525 per quintal. Groundnut – Rs 6,350-6,625 per quintal. Groundnut Oil Mill Delivery (Gujarat) – Rs 15,100 per quintal. Groundnut refined oil – Rs 2,270-2,570 per tin. Mustard oil Dadri- Rs 13,500 per quintal. Mustard Pakki Ghani – Rs 2,160-2,260 per tin. Mustard Kachchi Ghani – Rs 2,160-2,285 per tin. Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 13,650 per quintal. Soybean Mill Delivery Indore – Rs 13,150 per quintal. Soybean oil Degum, Kandla – Rs 10,050 per quintal. CPO ex-Kandla – Rs 12,350 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 12,600 per quintal. Palmolein RBD, Delhi – Rs 13,800 per quintal. Palmolein Ex- Kandla – Rs 12,750 (without GST) per quintal. Soybean grain – Rs 4,760-4,810 per quintal. Soybean loose – Rs 4,460-4,695 per quintal. Maize cake (Sariska) – Rs 4,200 per quintal.
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