The prices of edible oil, getting cheaper, fell further

Last week, the prices of CPO and palmolein oil closed with a declining trend in the country’s major oil-oilseeds market due to the prices of light edible oils being cheaper than palmolein. Whereas due to increased arrival of new crops of groundnut, cottonseed in the mandis, the prices of their oils closed soft. Mustard oil-oilseeds prices also fell as traders and mustard mills vacated their deals due to reports of imposition of ‘stock limit’ on edible oil-oilseeds in the country. On the other hand, soybean grain and loose prices closed showing improvement due to increase in the demand for oil-free oil (DOC) of soybean in foreign countries.

Hoarding less than the stock limit
Traders said importing soybean from abroad is cheaper for the importers, due to which soybean oil prices fell during the weekend under review. He said that the government has requested the states to consider the option of ‘stock limit’ to ensure the availability of edible oils and to check hoarding, after which traders emptied their stocks fearing the imposition of this restriction. Due to which there is a fall in mustard oil-oilseeds prices during the weekend under review.

Mustard is being sold for Rupees
He said that after this, the trend of improvement in mustard oil-oilseeds was established due to resumption of demand for mustard and fear of stock exhaustion. Amid rising demand for mustard, the price of mustard in Saloni Shamsabad was increased from Rs 8,800 earlier to Rs 9,200 a quintal. Similarly, in Jaipur also, the price of mustard was increased by Rs 250 a quintal.

He said that importing Palmolein Kandla oil is costly and there is a loss of Rs 3-4 per quintal in import of this oil. This oil was sold at a higher loss before the weak demand, which the importers decided to sell at a lower loss, due to which Palmolein Kandla oil is showing improvement.

Import duty on sunflower oil reduced
Market sources said that perhaps for the first time in the history of oil trading, the price of sunflower oil is cheaper than imported palmolein. He said sunflower oil was Rs 40 per kg more than mustard oil six months ago today and was costlier by Rs 55-60 per kg than palmolein. The duty on import of sunflower was Rs 46-47 per kg. It has now come down to Rs 7 per kg.

In the country, the consumption of sunflower oil in states like Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu, Kerala is similar to that of mustard in North India. The government should see that despite the low price of sunflower, it is not available cheaply to the consumers. He said that cottonseed oil and groundnut oil-oilseed prices declined due to increase in arrivals of new cottonseed crop in Punjab and Haryana and arrival of new groundnut crops in Gujarat and Rajasthan.

Sources said that the demand for mustard is expected to increase during the winter season and marriage season in the country and this time the farmers have also increased the area under mustard cultivation and its production can increase almost double due to closure of futures trading of mustard. Is. He said that the government should think of curbing futures trading of other edible oils like mustard, which is a major obstacle in the path of self-reliance in oilseeds.

New arrivals have also started
Sources said if there is no stock limit on 75 to 80 per cent of oils imported from abroad, there is no justification for imposing it on domestic oils as the arrival of new soybean and groundnut crop of farmers has started. The government should instead monitor their prices.

Sources said that the price of mustard seeds declined by Rs 200 to Rs 8,770-8,795 per quintal last week from Rs 8,970-8,995 per quintal last week. Sarson Dadri oil prices declined by Rs 400 to Rs 17,400 a quintal during the weekend under review. On the other hand, the price of Mustard Pakki Ghani oil declined by Rs 20 to Rs 2,670-2,705 per tin while Mustard Kacchi Ghani oil remained unchanged.

Here are the new prices
Contrary to the declining trend, soybean grain and soya bean loose prices improved by Rs 225 and Rs 200, respectively, to Rs 5,700-5,800 and Rs 5,525-5,575 per quintal, respectively, during the week under review amid local demand for non-oil oil (DOC) of soybean. But closed. On the other hand, Soyabean Delhi, Soyabean Indore and Soyabean Degum prices closed at Rs 13,350, Rs 13,000 and Rs 11,750 per quintal, showing a loss of Rs 300, Rs 400 and Rs 250, respectively, in the week under review.

During this, groundnut prices fell by Rs 50 to Rs 6,000-6,085 per quintal in the weekend under review due to breakdown in the prices of cottonseed oil and groundnut after the arrival of new crop of groundnut. Groundnut oil Gujarat closed at Rs 13,500 per quintal with a loss of Rs 250. While groundnut Solvent Refined fell by Rs 25 to Rs 1,980-2,105 per tin.

Crude palm oil (CPO) fell by Rs 100 to Rs 11,100 a quintal during the weekend under review on weak winter demand and costlier palmolein. While the price of Palmolein Delhi with a loss of Rs 50 closed at Rs 12,750 per quintal. On the other hand, palmolein kandla oil showed improvement due to lower losses by importers as compared to earlier losses and its price improved by Rs 30 to close at Rs 11,680 per quintal.