The prices of mustard, groundnut, soybean oil and oilseeds fell due to the abundance of cheap imported oils.

Due to the glut of imports of imported oils, the prices of Mustard, Groundnut, Soybean Oil-Oilseeds, Crude Palm Oil (CPO) and Palmolein Oil and Cottonseed Oil fell on Tuesday in the Delhi Oil-Oilseeds market. The farmers of the country are suffering badly due to cheap imports as the cost of their produce is high and their consumption in the market has become difficult. Market sources said that there is a bearish trend in Malaysia Exchange and Chicago Exchange. Sources said that due to the abundance of cheap imported oils, the country’s oil-oilseeds will not be able to rise. The way farmers’ produce has not been consumed this time, it should not be a surprise if farmers start refraining from sowing oilseeds.

The yield of oilseeds has increased in recent years because farmers got much higher prices than the minimum support price (MSP) for oilseeds in the last two years. But this time the prices of edible oils abroad have crashed and due to the weakening of prices of edible oils in addition to import of duty free oil in the country, uncontrolled import of edible oils continues even at present. Due to no control, it has become difficult to consume the produce of indigenous oilseed farmers and the products of indigenous crushing mills in the market. Native farmers and crushing mills are in bad shape and the present times will not be forgotten by the farmers for long.

Major oil organizations have also now started saying that mustard farmers are getting a much lower price than the MSP (Rs 4,700 per quintal against the MSP of Rs 5,450) due to glut of cheap imported oils and its Due to this, the cultivation of mustard and soybean may be affected in the coming days. However, these oil organizations should have raised this voice earlier and not when the farmers and crushing mills were in bad condition. Further, these edible oil organizations are expected to issue their timely advice to the government keeping the interest of the country’s oil-oilseed industry, farmers and consumers paramount.

Sources said that probably for the first time in history, the price of cottonseed oil went below Rs 7 a liter against crude palm oil (CPO) in Maharashtra’s Akola. Next month, the sunflower crop of the country’s Punjab, Haryana is about to arrive, but if no special measures are taken, its condition is sure to be like mustard. This is happening because of the abundance of cheap imported oils and India being used as a ‘dumping ground’. This will happen because imported sunflower oil costs Rs 77 a liter at the port and indigenous sunflower oil (at Rs 6,400 MSP) will cost Rs 135 a litre.

The policy makers of the country should decide whether they want to increase the supply of only cheap edible oils in the country or prefer to make the country self-sufficient in the matter of oilseeds. If the objective is clear then there is a need to implement the policies accordingly. The prices of oil-oilseeds on Tuesday were as follows: Mustard oilseeds – Rs.4,875-4,975 (42 percent condition rate) per quintal. Groundnut – Rs.6,450-6,510 per quintal. Groundnut oil mill delivery (Gujarat) – Rs 16,150 per quintal. Groundnut refined oil Rs 2,420-2,685 per tin. Mustard oil Dadri – Rs 9,450 per quintal. Mustard Pakki Ghani – Rs 1,610-1,690 per tin. Sarson Kachi Ghani – Rs 1,610-1,720 per tin.

Sesame oil mill delivery – Rs.18,900-21,000 per quintal. Soybean oil mill delivery Delhi – Rs 9,780 per quintal. Soybean Mill Delivery Indore – Rs 9,580 per quintal. Soybean oil Degem, Kandla – Rs 8,080 per quintal. CPO X-Kandla – Rs 8,460 per quintal. Cottonseed Mill Delivery (Haryana) – Rs 8,400 per quintal. Palmolin RBD, Delhi – Rs 9,800 per quintal. Palmolin X- Kandla – Rs 8,800 (without GST) per quintal. Soybean seed – Rs 5,115-5,190 per quintal. Soybean loose – Rs 4,890-4,970 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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