Edible Oil Price Update: Due to the rise in the global market, prices of all except groundnut have seen an increase in the oil-oilseeds market of Delhi. There is no change in groundnut prices today. Market experts said that the Chicago Exchange had closed up about seven percent on Friday night. The effect of this uptrend can be seen when the Malaysia Exchange opens on Monday.
Oil can be cheaper by 10 rupees
Recently, in a meeting of oil traders and representatives of organizations with the Food Secretary, oil traders and companies have assured to reduce the prices by about Rs 10 a liter. Despite this shortfall, consumers are not getting the benefit of the fall in global oil prices as the MRP is higher by about Rs 50 a liter than the cost. Even if there is a decrease of 10 rupees in this 50 rupees, then the consumers will not be able to get the proper benefit.
Need to control MRP
Sources said there is a need to control the MRP in the oil business so that the actual cost is only up to a limit. Despite the sharp fall in the global edible oil prices and the meetings of the oil traders, neither the consumers, nor the farmers nor the oil industry is getting the benefit of the fall in edible oil prices.
Mustard oil being sold at Rs 175 per liter
Let us tell you that the wholesale price of mustard oil including surcharge is Rs 135 per liter and its maximum price should be Rs 155-160 per liter in retail business, but in the retail market mustard oil is being sold around Rs 175 per liter.
Know how is the condition of other oils?
Sources said that the new consignment of import of crude palm oil (CPO), palmolein will be cheaper by about Rs 20 per liter from the current weak price. The price of new consignments of sunflower oil is also expected to be Rs 25-30 cheaper than the current price. Almost all oilseeds registered a correction in prices due to demand from upcoming festivals.
Let’s check the latest oil prices on Saturday-
- Mustard oilseeds – Rs 7,215-7,265 (42 percent condition rate) per quintal
- Groundnut – Rs 6,870 – Rs 6,995 per quintal
- Groundnut Oil Mill Delivery (Gujarat) – Rs 16,000 per quintal
- Groundnut Solvent Refined Oil Rs 2,670 – Rs 2,860 per tin
- Mustard oil Dadri – Rs 14,600 per quintal
- Sarson Pakki Ghani – Rs 2,310-2,390 per tin
- Mustard Kachhi Ghani – Rs 2,340-2,455 per tin
- Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal
- Soyabean Oil Mill Delivery Delhi – Rs 13,250 per quintal
- Soybean Mill Delivery Indore – Rs 13,150 per quintal
- Soyabean Oil Degum, Kandla – Rs 11,950 per quintal
- CPO Ex-Kandla – Rs 11,150 per quintal
- Cottonseed Mill Delivery (Haryana) – Rs 14,000 per quintal
- Palmolein RBD, Delhi – Rs 13,200 per quintal
- Palmolein Ex-Kandla – Rs 12,100 (without GST) per quintal
- Soyabean grain – Rs 6,360-6,435 per quintal
- Soyabean loose Rs 6,135- Rs 6,210 per quintal
- Maize Khal (Sariska) Rs 4,010 per quintal
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