Edible Oil Update: There has been an improvement in the oilseeds market on Tuesday. The effect of the rise in the global market is also being seen in the domestic market. So before buying mustard, soybean and groundnut oil today, check the latest rates. Traders said that the Malaysia Exchange was up 1.25 per cent while the Chicago Exchange is up about 1.6 per cent. Due to this boom abroad, the local oil-oilseeds prices improved.
loss to importers
Importers are suffering a lot due to the fall in the prices of oil and oilseeds abroad and the historic fall in the rupee. Second, for the loans taken by them, the importers have to pay more in rupee loans due to the strengthening of the dollar. At present, the importers are facing a double whammy. The biggest thing is that there has been a slowdown in oil prices abroad, but neither the oil industry, nor the consumer nor the farmers have got its proper benefit in the country.
At what rate is CPO imported?
Let us tell you that the CPO oil which was imported at a price of $ 2,010 per tonne. After the market broke down in the grip of recession, it has now come down to $ 1,340 a tonne on June 28, but consumers are getting this oil only 10-15 rupees cheaper despite the fall in the price of palmolein by about Rs 55 a liter.
The focus will have to be on increasing the production
Last year India had exported DOC, but this time the global demand is less so we are importing despite having soybean stock. The government will have to work by making a concrete policy to increase oil-oilseeds production in the country. Sources said that the mission of producing five lakh tonnes of palm oil (CPO) was started in the country around 1989, which has failed to give any result till date. Unless we have a clear policy to increase oilseeds production and farmers are not assured of selling their produce, it is difficult to achieve self-sufficiency in oilseeds production.
Let’s check the latest rates of oil and oilseeds-
- Mustard oilseeds – Rs 7,560-7,610 (42 percent condition rate) per quintal
- Groundnut – Rs 6,765 – Rs 6,890 per quintal
- Groundnut Oil Mill Delivery (Gujarat) – Rs 15,710 per quintal
- Groundnut Solvent Refined Oil Rs 2,635 – Rs 2,825 per tin
- Mustard oil Dadri – Rs 15,350 per quintal
- Sarson Pakki Ghani – Rs 2,390-2,470 per tin
- Mustard Kachhi Ghani – Rs 2,430-2,535 per tin
- Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal
- Soyabean Oil Mill Delivery Delhi – Rs 14,600 per quintal
- Soybean Mill Delivery Indore – Rs 14,150 per quintal
- Soyabean Oil Degum, Kandla – Rs 13,000 per quintal
- CPO Ex-Kandla – Rs 11,800 per quintal
- Cottonseed Mill Delivery (Haryana) – Rs 14,050 per quintal
- Palmolein RBD, Delhi – Rs 13,600 per quintal
- Palmolein Ex-Kandla – Rs 12,400 (without GST) per quintal
- Soyabean grain – Rs 6,560-6,610 per quintal
- Soyabean loose Rs 6,360- Rs 6,410 per quintal
- Maize Khal (Sariska) Rs 4,010 per quintal
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