New Delhi: Edible Oil Price: Mustard, soybean, and groundnut oil-oilseeds and CPO, palmolein, and cottonseed oil prices increased in Delhi oil-oilseeds market on Saturday due to demand for edible oils in foreign markets and an increase in demand for light oils in winter. done. The prices of the rest of the oil and oilseeds remained at the previous level. Traders said the rise in edible oil prices is being witnessed in the overseas markets due to low demand for light edible oils and deficient supply.
Sources said that the government will have to take action after extensive deliberations. Along with this, business sources also advised the government to avoid steps like setting quotas for duty-free import of sunflower and soybean oil. Sources say that instead of becoming cheaper due to this move, the rest of the imports became expensive due to the short supply situation due to stoppage.
Oilseeds production will have to increase in the country
At present, according to the quota system, imported sunflower oil costs Rs 140 a kg in bulk. But customers are getting the same oil at Kandla port in bulk at a higher premium of Rs 25. Similarly, earlier due to the demand of poultry companies, the government had opened the import of oilseed oilseed oilseed oilseed cake (DOC) till September 30, while the farmers in the country had sufficient availability of soybean. The only way out of all the uncertainties and volatility in edible oil prices is to increase the production of oilseeds in the country, for which farmers only need to continue to encourage and protect them.
No one is happy with a quota system
Neither the oil industry nor the farmers nor the consumers are happy with the introduction of the quota system by the government. This system should be ended as soon as possible. Sources said that farmers are getting lower prices for soybean, cottonseed, and groundnut than last year due to which they are bringing less produce to the mandis for sale. There is less inventory in the pipeline near soybean processing plants. Due to this, there is an improvement in soybean oil oilseeds, groundnut, and cottonseed oil prices.
Sources said that there is a rise in mustard oil oilseeds prices due to less arrival in the mandis. Along with mustard, oilseed prices have increased due to the increase in the demand for light oils in winter. While demand for CPO and palmolein oil declines in winter, global demand for crude palm oil and palmolein oil has increased due to the continuing Russo-Ukraine war and the supply of edible oils such as sunflower and sunflower becoming cheaper. Due to this, CPO and palmolein oil prices improved.
The prices of oil and oilseeds remained as follows on Saturday
Mustard oilseeds – Rs 7,425-7,475 (42 percent condition rate) per quintal.
Groundnut – Rs 6,900-6,960 per quintal.
Groundnut Oil Mill Delivery (Gujarat) – Rs 16,000 per quintal.
Groundnut refined oil Rs 2,575-2,835 per tin.
Mustard oil Dadri – Rs 15,350 per quintal.
Sarson Pakki Ghani – Rs 2,330-2,460 per tin.
Mustard Kachchi Ghani – Rs 2,400-2,515 per tin.
Sesame Oil Mill Delivery – Rs 18,800-20,500 per quintal.
Soyabean Oil Mill Delivery Delhi – Rs 15,200 per quintal.
Soybean Mill Delivery Indore – Rs 14,850 per quintal.
Soyabean Oil Degum, Kandla – Rs 13,500 per quintal.
CPO Ex-Kandla – Rs 9,500 per quintal.
Cottonseed Mill Delivery (Haryana) – Rs 13,700 per quintal.
Palmolein RBD, Delhi – Rs 11,100 per quintal.
Palmolein ex-Kandla – Rs 10,200 (without GST) per quintal.
Soyabean grain – Rs 5,550-5,600 per quintal.
Soyabean lose Rs 5,360-5,410 per quintal.
Maize Khal (Sariska) Rs 4,010 per quintal.
