Edible oil-oilseeds prices improve strongly abroad
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Sources in the market said that the demand for soybean oil has also been affected due to the prices of sunflower oil being below that of crude palm oil (CPO). Although the prices of soybean oil are being said to be high, but the demand has been affected.
Amidst the fast trend in foreign markets, there was an improvement in edible oil prices in the Delhi oil-oilseeds market on Tuesday and improvement was registered in the prices of mustard, groundnut, soybean oil-oilseeds, crude palm oil (CPO) and palmolein and cottonseed oil. Sources in the market said that the demand for soybean oil has also been affected due to the prices of sunflower oil being below that of crude palm oil (CPO). Although the prices of soybean oil are being said to be high, but the demand has been affected.
The country’s oil-oilseed industry and farmers are seriously affected by cheap edible oil because crushing mills suffer losses in crushing and farmers’ crops are not being sold because of cheap edible oils or farmers don’t want to sell cheaply. The cost of edible oils (Indian mustard, soyabean, sunflower and cottonseed oil) after crushing is much higher than the cheaper imported oils. Sources said this is the reason why edible oil organizations like SOPA and MOPA have also asked the government to regulate cheap imported oils.
These organizations said that there is a need to increase the duty on these imported oils, otherwise the farmers will hesitate to produce oilseeds in the coming times. Sources said that if the government is worried about inflation due to increase in prices of edible oils, then it should first look at fixing the maximum retail price (MRP) arbitrarily fixed by the oil packers. Oil organizations should also appeal to such edible oil packers to fix the MRP to a reasonable extent so that consumers can get the benefit of the global fall in edible oil prices.
The prices of oil-oilseeds on Tuesday were as follows: Mustard oilseeds – Rs.5,260-5,310 (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 10,750 per quintal. Mustard Pakki Ghani – Rs 1,690-1,760 per tin. Sarson Kachi Ghani – Rs 1,690-1,810 per tin. Sesame oil mill delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 11,100 per quintal.
Soybean Mill Delivery Indore – Rs 11,000 per quintal. Soybean oil Degem, Kandla – Rs 9,350 per quintal. CPO X-Kandla – Rs 8,800 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 9,600 per quintal. Palmolin RBD, Delhi – Rs 10,250 per quintal. Palmolin X- Kandla – Rs 9,300 (without GST) per quintal. Soybean grain – Rs 5,235-5,385 per quintal. Soybean loose – Rs 4,995-5,045 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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