Sunflower oil prices fall again, soybean, mustard prices stable

The prices of imported sunflower oil fell again on Tuesday, after which, due to pressure on domestic oil-oilseeds in the Delhi oil-oilseeds market, domestic soybean, mustard, groundnut oil-oilseeds, except for the decline in cottonseed oil prices. The prices remained at the previous level. Knowledgeable sources of the market said that after the breakdown of sunflower oil, the prices of all the indigenous oil and oilseeds are being said high, but there is no buying. About 10 months ago, the price of sunflower oil used to be $350 more than soyabean oil, but at present its price has become $100 below that of soyabean.

That is, the price of sunflower oil has come down to Rs 80-81 per liter as against the earlier Rs 200, due to which the consumption of indigenous oil and oilseeds has become difficult in the market. Most of the oil organizations talk about increasing the difference between the import duty of palm and palmolein, but why do they remain silent about the break in the prices of sunflower, which has the most impact on domestic oil-oilseeds? Sources said that the collapse of the prices of sunflower and soybean is affecting the domestic oil-oilseeds market more than the fluctuations in foreign countries.

As a result, both the country’s oilseed farmers and the oil industry have reached the brink of ruin. He said that an import duty of 13.75 per cent is applicable on palmolein used by low-income groups and street vendors or used in small restaurants, while sunflower oil consumed by high-income groups is being kept import duty-free till March 31. Before time runs out, the government will have to take this into consideration and immediately take initiative to impose import duty of up to 45 percent on imported sunflower and soybean oil.

Only after this the way will be opened for consumption of indigenous oil and oilseeds. Sources said that the government will also have to take note of the fact that the purpose of implementing the duty-free system was to provide six rupees cheaper soft oil to the consumers, but on the contrary, the people taking advantage of this duty-free system made profit by selling it at double the price. are biting. Government should impose penalty on those who sell the same oil at almost double the price by taking advantage of such duty free imports. The price of sunflower oil at the port is Rs 80-81 per liter and due to MRP in the retail market, it is being sold at Rs 160-170 per litre.

Due to today’s fall in sunflower oil, cottonseed oil cake in April contracts traded higher from Rs 2,684 to Rs 2,708 a quintal in futures trade on the NCDEX, sources said. He said that there is currently a declining trend in the foreign markets. The prices of oil-oilseeds on Tuesday were as follows: Mustard oilseeds – Rs.5,250-5,300 (42 percent condition rate) per quintal. Groundnut – Rs.6,780-6,840 per quintal. Groundnut oil mill delivery (Gujarat) – Rs 16,600 per quintal.

Groundnut refined oil Rs 2,540-2,805 per tin. Mustard oil Dadri – Rs 10,900 per quintal. Mustard Pakki Ghani – Rs 1,705-1,775 per tin. Sarson Kachi Ghani – Rs 1,705-1,825 per tin. Sesame oil mill delivery – Rs 18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 11,270 per quintal. Soybean Mill Delivery Indore – Rs 11,140 per quintal. Soybean oil Degem, Kandla – Rs 9,640 per quintal.

CPO X-Kandla – Rs 8,650 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 9,460 per quintal. Palmolin RBD, Delhi – Rs 10,250 per quintal. Palmolin X- Kandla – Rs 9,250 (without GST) per quintal. Soybean seed – Rs 5,225-5,375 per quintal. Soybean loose – Rs 4,985-5,035 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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