Edible oil-oilseeds prices trade mixed
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Besides crude palm oil (CPO) and palmolein, soybean and cottonseed oil prices recovered on a recovery in Malaysia Exchange, while mustard and groundnut oil oilseeds and soybean oilseeds remained at their previous levels due to glut in cheap imported oils.
There was a mixed trend of business in the Delhi oil-oilseed market on Wednesday. Besides crude palm oil (CPO) and palmolein, soybean and cottonseed oil prices recovered on a recovery in Malaysia Exchange, while mustard and groundnut oil oilseeds and soybean oilseeds remained at their previous levels due to glut in cheap imported oils. Market sources said the Malaysia Exchange closed 1.5 per cent higher while the Chicago Exchange was down 0.3 per cent.
According to trade sources, the visible improvement in edible oil prices is due to higher prices being quoted and not in demand. Due to the abundance of sunflower oil included in the quota system, its price is running cheaper than soyabean oil by about four rupees per liter, while its price was always much higher than soyabean. The cost of crushing sunflower seeds in the country is about Rs 135 per liter but the price of imported sunflower oil arriving at the ports is Rs 97 per litre.
The price of sunflower seeds in the markets is running about 25 percent below the minimum support price (MSP), in such a situation, there is every possibility of affecting the ongoing sunflower sowing in different states of the country. Sources said that the arrival of mustard in the market is going to increase in the next 10-15 days and due to the concern of not being able to consume it, the demand is weak and the producing farmers are also worried. In the midst of this struggle, the prices of mustard, groundnut oil, oilseeds and soybean oilseeds remained at the previous level.
Sources said higher prices are being imposed for soybean oilseeds but demand remains weak. The uptake of millers is also less. Major oil organization ‘SOPA’ has also written a letter to the government recommending the imposition of import duty on various edible oils in the interest of the country’s oilseed producing farmers. The prices of oil-oilseeds on Wednesday were as follows: Mustard oilseeds – Rs 5,980-6,030 (42 percent condition rate) per quintal. Groundnut – Rs.6,450-6,510 per quintal. Groundnut oil mill delivery (Gujarat) – Rs 15,450 per quintal.
Groundnut refined oil Rs 2,420-2,685 per tin. Mustard oil Dadri – Rs 12,400 per quintal. Mustard Pakki Ghani – Rs 1,990-2,020 per tin. Sarson Kachi Ghani – Rs 1,950-2,075 per tin. Sesame oil mill delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 12,500 per quintal. Soybean Mill Delivery Indore – Rs 12,200 per quintal.
Soybean oil Degem, Kandla – Rs 10,680 per quintal. CPO X-Kandla – Rs 8,750 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 10,900 per quintal. Palmolein RBD, Delhi – Rs 10,300 per quintal. Palmolin X- Kandla – Rs 9,400 (without GST) per quintal. Soybean grain – Rs 5,445-5,575 per quintal. Soybean loose – Rs 5,185-5,205 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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