Downtrend in oilseeds business amid weakness overseas
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The Malaysia Exchange was down 1.5 per cent while the Chicago Exchange lost two per cent last night and is currently down half a per cent. Market sources said that about 12.50 lakh bags of mustard have arrived in mandis across the country while the capital has two oilseed mandis – Najafgarh and Narela.
Amidst the declining trend in foreign markets, oil-oilseed prices softened on Thursday in the Delhi market. Mustard, soyabean oil oilseeds, crude palm oil (CPO), palmolein and cottonseed oil prices declined, while groundnut oil oilseeds remained at the previous level. The Malaysia Exchange was down 1.5 per cent while the Chicago Exchange lost two per cent last night and is currently down half a per cent. Market sources said that about 12.50 lakh bags of mustard have arrived in mandis across the country while the capital has two oilseed mandis – Najafgarh and Narela.
About 500-600 gunny bags of mustard arrived in Narela after 20 years, while 2,500 gunny bags arrived in Najafgarh. Arhtiyas in these mandis procured mustard at Rs 4,800-4,900 per quintal against the minimum support price (MSP) of Rs 5,450 per quintal. This happening right in the capital reflects the plight of oilseed farmers of the country. Interestingly, there is a complaint that he is going to Haryana after buying mustard. If this situation continues, then the condition of mustard may also be like that of sunflower, and then even if the government fixes the MSP at Rs 10,000 a quintal, still farmers will refrain from sowing it like sunflower.
This needs to be taken into consideration and investigated. Sources said that in spite of all the oil organizations being present in the capital Delhi, mustard is being sold below the MSP and everyone is silent, the reason for this is beyond comprehension. He said that cheap imported oils have been imported in large quantities in the country. The situation is that to take advantage of the situation, sunflower oil has also been imported in huge quantities in northern India, whereas most of this oil is consumed in Maharashtra and some southern states.
The government should also consider imposing anti-dumping duty to control such imports. The prices of oil-oilseeds on Thursday were as follows: Mustard oilseeds – Rs.5,215-5,310 (42 percent condition rate) per quintal. Groundnut – Rs.6,790-6,850 per quintal. Groundnut oil mill delivery (Gujarat) – Rs 16,660 per quintal. Groundnut refined oil Rs 2,535-2,800 per tin. Mustard oil Dadri – Rs 10,100 per quintal. Mustard Pakki Ghani – Rs 1,615-1,685 per tin. Sarson Kachi Ghani – Rs 1,615-1,735 per tin.
Sesame oil mill delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 10,900 per quintal. Soybean Mill Delivery Indore – Rs 10,800 per quintal. Soybean oil Degem, Kandla – Rs 9,150 per quintal. CPO X-Kandla – Rs 8,650 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 9,400 per quintal. Palmolin RBD, Delhi – Rs 10,150 per quintal. Palmolin X- Kandla – Rs 9,300 (without GST) per quintal. Soybean seed – Rs 5,375-5,425 per quintal. Soybean loose – Rs 5,125-5,225 per quintal. Maize Khal (Sariska) – Rs 4,010 per quintal.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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