Edible Oil Price: After a steady decline, there has been an improvement in soybean prices today. On the other hand, amidst the fall in the global market, the prices of soybean oil, CPO, cottonseed and palmolein oil are seeing a decline. Mustard and groundnut oil and oilseeds prices remained at the previous level amid normal business.
The arrival of mustard is decreasing
Informed sources in the market said that barring soybean, there was no demand for oilseeds in the mandis. Apart from this, due to the slowdown in the Chicago Exchange, there has been a fall in the prices of soybean oils. Sources said that the arrival of mustard and groundnut in the mandis has started decreasing. On Wednesday, the arrival of mustard in the mandis has come down from about five lakh bags earlier to about 4.5 lakh bags.
Refined being made on a large scale
Mustard can be a problem going beyond the large scale on which refined is being prepared from mustard. In the case of mustard, it is about nine-10 months before the next crop arrives and the government has to be especially vigilant about mustard.
Government should make stock of mustard
Sources said that it should be the effort of the government to issue an appeal to the procurement agencies of the central as well as the state government to buy mustard oilseeds and make stock of it. This will prove to be in the interest of the country in the time of need. There is no substitute for mustard and the government has to be vigilant.
fall in prices
Sources said the Malaysia exchange was down about half a per cent while the Chicago exchange was also down around 1.8 per cent. Sources said that soybean oil, crude palm oil (CPO), cottonseed and palmolein oil prices fell due to a declining trend in overseas markets.
Let’s check what are the prices of oil today-
- Mustard oilseeds – Rs 7,565-7,615 per quintal
- Groundnut – Rs 6,835 – Rs 6,970 per quintal
- Groundnut Oil Mill Delivery (Gujarat) – Rs 15,850 per quintal
- Groundnut Solvent Refined Oil Rs 2,650 – Rs 2,840 per tin
- Mustard oil Dadri – Rs 15,200 per quintal
- Sarson Pakki Ghani – Rs 2,390-2,470 per tin
- Mustard Kachhi Ghani – Rs 2,430-2,540 per tin
- Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal
- Soyabean Oil Mill Delivery Delhi – Rs 16,950 per quintal
- Soybean Mill Delivery Indore – Rs 16,350 per quintal
- Soyabean Oil Degum, Kandla – Rs 15,450 per quintal
- CPO Ex-Kandla – Rs 15,200 per quintal
- Cottonseed Mill Delivery (Haryana) – Rs 15,400 per quintal
- Palmolein RBD, Delhi – Rs 16,700 per quintal
- Palmolein Ex-Kandla – Rs 15,550 (without GST) per quintal
- Soyabean grain – Rs 7,100-7,200 per quintal
- Soyabean loose Rs 6,800- Rs 6,900 per quintal
- Maize Khal (Sariska) Rs 4,000 per quintal
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