Edible oil prices: The wholesale prices of mustard, groundnut and soybean oil, oilseeds, crude palm oil (CPO) and palmolein and cottonseed oil remained in loss on Thursday amid declining trend abroad and falling wholesale prices of imported oils. Market sources described this decline as a big crisis for the oil industry. He said that the Chicago Exchange had fallen by about 1.5 percent on Wednesday night and currently there is a decline here. There is a decline of 1.5-2 percent in Malaysia Exchange. Due to the breakdown of foreign markets, there was pressure on the prices of edible oils.
Prices have fallen 10% in 1 week
Sources said that the prices of soybean, CPO and palmolein oil have fallen by about 10 percent in the last one month. When the prices of these oils increased by about eight percent, analysts created an outcry. Now that the prices have fallen by 10 percent, they should also talk about the impact on the market. He said that according to the prices which have fallen and bulk purchase of indigenous oilseeds is being done at prices lower than the Minimum Support Price (MSP), the retail price of palmolein, sunflower and soybean oil should be Rs 100-102 per litre.
Mustard is also being purchased below MSP
Mustard is also being purchased at a price below the MSP and according to the purchase price, the retail price of mustard oil should also be sold at Rs 110-112 per litre. These experts should at least give their opinion about why the retail prices of edible oils are high in the market and what is the way to solve it. According to sources, attention should be paid to curbing the booming business of fake cottonseed meal. Doing this is also necessary to increase cotton production.
The prices of oil and oilseeds were as follows:
- Mustard oilseeds – Rs 5,200-5,240 per quintal.
- Groundnut – Rs 6,125-6,400 per quintal.
- Groundnut Oil Mill Delivery (Gujarat) – Rs 14,725 per quintal.
- Groundnut refined oil Rs 2,235-2,500 per tin.
- Mustard oil Dadri- Rs 9,880 per quintal.
- Mustard Pakki Ghani – Rs 1,685-1,785 per tin.
- Mustard Kachchi Ghani – Rs 1,685-1,800 per tin.
- Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal.
- Soybean Oil Mill Delivery Delhi – Rs 10,000 per quintal.
- Soybean Mill Delivery Indore – Rs 9,700 per quintal.
- Soybean oil Degum, Kandla – Rs 8,350 per quintal.
- CPO ex-Kandla – Rs 8,775 per quintal.
- Cottonseed Mill Delivery (Haryana) – Rs 9,600 per quintal.
- Palmolein RBD, Delhi – Rs 10,050 per quintal.
- Palmolein Ex- Kandla – Rs 9,150 (without GST) per quintal.
- Soybean grain – Rs 4,750-4,770 per quintal.
- Soybean loose – Rs 4,550-4,590 per quintal.
- Maize cake (Sariska) – Rs 4,075 per quintal.
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