Edible Oil- Oilseeds trend of decline
[ad_1]
Due to excess import of cheap imported oils in the first three months of the new oil year starting in November, the Delhi oil-oilseed market on Monday showed a declining trend in business and most oils except groundnut oil-oilseed and soybean oilseed Oilseeds closed with a fall.
Due to excess import of cheap imported oils in the first three months of the new oil year starting in November, the Delhi oil-oilseed market on Monday showed a declining trend in business and most oils except groundnut oil-oilseed and soybean oilseed Oilseeds closed with a fall. Sources in the market said that due to export demand of groundnut and increasing use as ‘dry food’, the prices of groundnut oil-oilseeds remained at the previous level.
While the prices of soybean oilseeds also remained unchanged due to farmers not selling at lower prices. Sources said that with the opening of the season in the country, there has been an increase in the arrival of mustard in the mandis, which has increased to about six lakh bags today. If the weather remains open, the arrival will increase further in the coming days. Due to the weakening of demand for mustard in front of cheap imported oils, it is becoming difficult to consume mustard, due to which the prices of its oil and oilseeds have come down. The Chicago Exchange was closed today while the Malaysia Exchange is up 0.8 percent today.
Soybean oil and oilseeds declined due to farmers not selling at low prices. Cottonseed oil prices also declined due to difficulty in consuming indigenous oils in the face of cheap imported edible oils. Crude palm oil (CPO) and palmolein oil prices also declined marginally on increased imports and weak demand. Sources said that in the last year 2020-21, about one crore 31 lakh 40 thousand tonnes of edible oils were imported in the country and in the year 2021-22 it increased to one crore 40 lakh 30 thousand tonnes.
Imports increased by about 30 percent in the first three months of the new oil year. It is a matter of concern that edible oil imports are increasing in the country. It is obvious that the country has to spend a huge amount of foreign exchange for this import. When the inflation of edible oils increases, everyone becomes active and when the prices fall in foreign countries, then no one investigates the news that what negative effect it is going to have on the market.
Sources said that apart from importing from abroad, distribution of edible oils after processing to common consumers through the Public Distribution System (PDS) could be a way to bring down the inflation of edible oils. Due to this, the customers will also get proper benefit of the fall in global prices and oil prices will come under control.
The problem of cheap imported oils is that it will not give us a khal which affects the cost of animal feed and due to lack or increase in which the prices of milk, butter etc. have increased. In foreign countries, solvent is used instead of expeller to extract edible oil; Deoiled cake (DOC) is produced from sunflower in foreign countries, but our indigenous oilseeds produce oilseeds.
Imported edible oil is running about 30-35 rupees less than the indigenous oil, but we will need oilseeds, which will be available from our indigenous oilseeds and for this it is necessary to consume indigenous oilseeds in the market. About 90-95 lakh tonnes of palm and palmolein used by the poor are imported in the country. Of course, the government should not increase the import duty on this because it does not make any difference to our indigenous oils. But the import duty on sunflower and soyabean should be increased to the maximum extent, so that a situation is created for the consumption of our indigenous oilseeds in the market.
The prices of oil-oilseeds on Monday were as follows: Mustard oilseeds – Rs.5,785-5,835 (42 percent condition rate) per quintal. Groundnut – Rs.6,775-6,835 per quintal. Groundnut oil mill delivery (Gujarat) – Rs 16,550 per quintal. Groundnut refined oil Rs 2,540-2,805 per tin. Mustard oil Dadri – Rs 12,075 per quintal. Mustard Pakki Ghani – Rs 1,940-1,970 per tin. Sarson Kachi Ghani – Rs 1,900-2,025 per tin. Sesame oil mill delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 12,300 per quintal.
Soybean Mill Delivery Indore – Rs 12,030 per quintal. Soybean oil Degem, Kandla – Rs 10,540 per quintal. CPO X-Kandla – Rs 8,880 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 10,680 per quintal. Palmolin RBD, Delhi – Rs 10,430 per quintal. Palmolin X- Kandla – Rs 9,450 (without GST) per quintal. Soybean grain – Rs 5,450-5,580 per quintal. Soybean loose – Rs 5,190-5,210 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.
[ad_2]
Source link
