Edible oil prices: On Saturday, the prices of mustard oil, oilseeds, crude palm oil (CPO) and palmolein and cottonseed oil closed with slight improvement due to very low oil stocks at airports and empty pipelines of edible oils. Amidst weak buying and weak stock of edible oils, the prices of soybean and groundnut oil remained at the previous level. Last night the Chicago Exchange had closed almost one percent weaker. Market sources said that generally the stock of edible oils is negligible everywhere including ports.
11.49 lakh tonnes of edible oils were imported in March
Amid huge domestic demand, 11.49 lakh tonnes of edible oils were imported in the month of March and now around 13-13.50 lakh tonnes of edible oils are likely to be imported in April. He said that with the pipeline of edible oils almost empty, it is difficult to meet the shortage of edible oils by importing 13-13.50 lakh tonnes. In normal times, even in the case of less imports, there has been a stock of 8-10 lakh tonnes of edible oils at the ports, which is negligible at present.
Arrival of mustard is not increasing in the markets
Sources said that the arrival of mustard in the mandis is not increasing and the arrival is stuck at 9-9.50 lakh bags. Whereas on March 29-30, the arrival reached around 16 lakh bags. Mustard crushing mills are also running 25-30 percent less compared to the month of April last year. He said that the arrival of cotton in the mandis is also continuously decreasing and today this arrival has reduced to about 38 thousand bales. Then there is a possibility of short supply of cottonseed also. Sources said it seems that the competent authorities are only concerned with the fall in wholesale prices. On the other hand, who is going to worry about how expensive it is being sold in retail, what is the condition of the oil industry and oil mills and how expensive is the same edible oil being sold to the consumer? All these situations are likely to have a negative impact on the oilseed business in the coming days.
The prices of oil and oilseeds were as follows:
- Mustard oilseeds – Rs 5,340-5,380 per quintal.
- Groundnut – Rs 6,105-6,380 per quintal.
- Groundnut Oil Mill Delivery (Gujarat) – Rs 14,750 per quintal.
- Groundnut refined oil Rs 2,240-2,505 per tin.
- Mustard Oil Dadri – Rs 10,075 per quintal.
- Mustard Pakki Ghani – Rs 1,720-1,820 per tin.
- Mustard Kachchi Ghani – Rs 1,720 -1,835 per tin.
- Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal.
- Soybean oil mill delivery Delhi – Rs 10,400 per quintal.
- Soybean Mill Delivery Indore – Rs 10,050 per quintal.
- Soybean oil Degum, Kandla – Rs 8,700 per quintal.
- CPO ex-Kandla – Rs 9,425 per quintal.
- Cottonseed Mill Delivery (Haryana) – Rs 9,725 per quintal.
- Palmolein RBD, Delhi – Rs 10,625 per quintal.
- Palmolein Ex- Kandla – Rs 9,650 (without GST) per quintal.
- Soybean grain – Rs 4,910-4,930 per quintal.
- Soybean loose – Rs 4,710-4,750 per quintal.
- Maize cake (Sariska) – Rs 4,075 per quintal.
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