cooperative Due to continued selling by the NAFED organisation, prices of mustard oil and oilseeds closed lower in the Delhi wholesale oilseeds market on Saturday. While last night the price of soybean oil remained strong as the Chicago Stock Exchange strengthened by more than two percent. Prices of all other oilseed oils (peanut oilseed oil, soybean oilseed, CPO and palmolein) and cottonseed oil closed at the previous level. Market sources said that after the government's decision to increase import duty on cheap imported edible oils, mustard that was stored at NAFED for the last three years is being consumed, otherwise it would spoil. Thanks to this, farmers obtained good prices and work began in the country's crushing mills.
decrease in peanut oil
Those who feared a huge rise in edible oil prices due to the tax hike will be surprised to know that after the tax hike, the price of mustard oil has increased by only Rs 10 per liter. On the other hand, the price of the most expensive groundnut oil has decreased by Rs 5-7 per liter. But thanks to this, the country's closed mills began to operate and farmers benefited. In Rajasthan, groundnut oil is sold at a cheaper wholesale price than mustard oil and imported oils. He said the price of edible oils has not increased in the last 15 years, so the country's oilseed production has also not increased. In case of an abnormal situation due to increased production in the country, the situation can be addressed through various measures. But when there is dependence on imports of edible oils, it will not be easy to control it. For this reason, self-sufficiency in the production of oil and oilseeds is very important, because for this the country has to bear enormous expenses in foreign currency.
Slight rise in soybean oil
Sources said soybean oil prices improved as the Chicago Stock Exchange closed up more than two percent last night. But due to the high price that affected the demand for degreased cake (DOC), soybean oilseed prices remained at the previous level. Groundnut oil and oilseeds remained at the previous level amid arrival of groundnuts reaching around 2.5 lakh bags and lower sales due to wet products. Due to low demand during the cold season, palm oil and palm oil prices remained at the previous level. However, the future trend of palm and palmolein will be known when the Malaysia Stock Exchange opens on Monday. Sources said the soybean crop is still being sold 5-7 per cent below the Minimum Support Price (MSP), groundnut crop 5-7 per cent below the minimum support price (MSP). MSP) and sunflower oil 20 percent below the price. This also needs to be investigated, as merely reducing wholesale prices will not change 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.
- Refined peanut oil: Rs 2,270-2,570 per can.
- Dadri mustard oil: Rs 13,500 per quintal.
- Pakki Ghani Mustard: Rs 2160-2260 per can.
- Kachchi Ghani Mustard: Rs 2,160-2,285 per can.
- Sesame oil mill delivery: Rs 18,900-21,000 per quintal.
- Delivery of soybean oil mill to Delhi: Rs 13,650 per quintal.
- Delivery of soybean mill in Indore: Rs 13,150 per quintal.
- Degum soybean oil, Kandla: Rs 10,050 per quintal.
- CPO ex-Kandla: Rs 12,350 per quintal.
- Factory delivery of cotton seeds (Haryana): Rs 12,600 per quintal.
- Palmolein RBD, Delhi: Rs 13,800 per quintal.
- Palmolein Ex-Kandla: Rs 12,750 (excluding GST) per quintal.
- Soybean: Rs 4,760-4,810 per quintal.
- Loose soybeans: Rs 4,460-4,695 per quintal.
- Corn cake (Sariska): Rs 4,200 per quintal.
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