Edible oil-oilseeds prices improve due to firmness overseas
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Market sources said that the fear of cheap imported edible oils is continuously hovering over the oilseeds industry, farmers and consumers of the entire country. At the time of the arrival of mustard crop, the continuation of import of duty free edible oil has become a problem for the country’s mustard and soyabean farmers.
Due to the slight strengthening of the edible oil oilseeds market abroad, almost all the oilseeds prices except groundnut oilseeds showed an improving trend in the Delhi oilseeds market on Friday. Market sources said that the fear of cheap imported edible oils is continuously hovering over the oilseeds industry, farmers and consumers of the entire country. At the time of the arrival of mustard crop, the continuation of import of duty free edible oil has become a problem for the country’s mustard and soyabean farmers.
He said, “In such a situation, how will anyone buy high cost indigenous soyabean and mustard? Where will the crops of the farmers be consumed? Firstly, the stock of soyabean produced in the country is not consumed and now mustard is also likely to be in the same condition. There will be carry over stock which will not be in the interest of the farmers of the country from anywhere. Therefore, the government will have to immediately take measures to control the cheap imported oils so that the farmers who are engaged in making the country self-sufficient in oilseeds, do not lose their courage.
He said that on the other hand, the problem of oil cake is also increasing in view of non-consumption of indigenous oilseeds. Due to this, the prices of cow dung used for cattle fodder are increasing and because of which the prices of milk have also been increased several times. In view of the inflation of mustard seed, farmers are turning to cottonseed meal, due to which the price of cottonseed meal has seen a rise of about three percent on Thursday and about one percent today in the futures trade.
Sources said that in the earlier days, palmolein imports used to be much higher than ‘soft oil’ like sunflower and soyabean due to its cheapness, but due to implementation of quota system of duty free import and fall in sunflower prices abroad. Sunflower oil has started sitting at the ports cheaper than palmolein oil by Rs.7 per litre. In such a situation, instead of palmolein, people are paying more attention towards light oils.
One more thing is being seen that due to the cheap price of sunflower oil and being sold expensive in retail, businessmen are more inclined towards soft oil like sunflower. For this reason, in the current situation, the import of CPO and Palmolein oil and the import of Sunflower and Soybean oil have become almost equal. It is noteworthy that SOPA President Devesh Jain has written a letter to Union Minister Piyush Goyal expressing concern about the increasing import of cheap edible oils and the poor condition of the country’s oilseeds industry.
The prices of oil-oilseeds on Friday were as follows: Mustard oilseeds – Rs.5,435-5,485 (42 percent condition rate) per quintal. Groundnut – Rs.6,815-6,875 per quintal. Groundnut oil mill delivery (Gujarat) – Rs 16,700 per quintal. Groundnut refined oil Rs 2,545-2,810 per tin. Mustard oil Dadri – Rs 10,950 per quintal. Mustard Pakki Ghani – Rs 1,715-1,785 per tin. Sarson Kachi Ghani – Rs 1,715-1,835 per tin. Sesame oil mill delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 11,250 per quintal. Soybean Mill Delivery Indore – Rs 11,100 per quintal.
Soybean oil Degem, Kandla – Rs 9,600 per quintal. CPO X-Kandla – Rs 8,900 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 9,800 per quintal. Palmolin RBD, Delhi – Rs 10,350 per quintal. Palmolin X- Kandla – Rs 9,500 (without GST) per quintal. Soybean grain – Rs 5,335-5,485 per quintal. Soybean loose – Rs 5,095-5,135 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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