foreign countries Amidst the strengthening trend in the markets and short supply of edible oils in the country, apart from groundnut oil-oilseeds prices remaining at the previous level in the country’s oil-oilseeds markets, mustard and soybean oil-oilseeds, crude palm oil ( CPO) and palmolein and cottonseed oil prices closed on strength. Correction is going on in Chicago and Malaysia Exchange. Sources knowledgeable about the market said that when the market reopened after the weekly holiday, the arrival of mustard decreased further instead of increasing. On Saturday, the arrival of mustard in the markets was about six and a half lakh bags, which today came down to about six lakh bags.
Farmers are stopping mustard crop
Due to expectations of starting government procurement of mustard at Minimum Support Price (MSP), farmers are holding their crops and waiting to get the right price. He said that the pipeline which used to have a stock of eight to ten lakh tonnes of edible oils at the ports has currently reduced. The stock held by edible oil companies is also very less. That means the pipeline is almost empty. The demand for edible oils will increase during weddings and Navratri, keeping this in mind, concrete arrangements should be made.
It is necessary to become self-reliant in oil-oilseed production
Sources said that despite the decrease in imports in a big importing country like India, the export of edible oils of Malaysia has increased by about 20.53 percent. The reason for this increase is the use of edible oils to make biodiesel in many countries. This situation shows that it is not appropriate to depend on imports to meet the needs of edible oils. Instead, we will have to take every possible measure so that we can become self-reliant in the matter of oil and oilseed production. For this, attention will have to be paid to developing the market for indigenous oil-oilseeds and ensuring better prices for the oilseed crops to the indigenous oilseed farmers. This time, the prices of groundnut and soybean have become unbearable due to cheap wholesale prices of imported oils and it is becoming difficult to consume these oils and oilseeds. If this situation is not taken care of, their production may be affected in future.
The prices of oil and oilseeds were as follows:
- Mustard oilseeds – Rs 5,390-5,430 per quintal.
- Groundnut – Rs 6,130-6,405 per quintal.
- Groundnut Oil Mill Delivery (Gujarat) – Rs 14,850 per quintal.
- Groundnut refined oil Rs 2,250-2,525 per tin.
- Mustard Oil Dadri – Rs 10,375 per quintal.
- Mustard Pakki Ghani – Rs 1,755-1,855 per tin.
- Mustard Kachchi Ghani – Rs 1,755 -1,870 per tin.
- Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal.
- Soybean Oil Mill Delivery Delhi – Rs 10,600 per quintal.
- Soybean Mill Delivery Indore – Rs 10,400 per quintal.
- Soybean oil Degum, Kandla – Rs 9,050 per quintal.
- CPO ex-Kandla – Rs 9,200 per quintal.
- Cottonseed Mill Delivery (Haryana) – Rs 9,650 per quintal.
- Palmolein RBD, Delhi – Rs 10,600 per quintal.
- Palmolein Ex- Kandla – Rs 9,650 (without GST) per quintal.
- Soybean grain – Rs 4,685-4,705 per quintal.
- Soybean loose – Rs 4,485-4,525 per quintal.
- Maize cake (Sariska) – Rs 4,075 per quintal.
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