Oil-oilseeds prices fell face to face, groundnut rates also likely to break

Barring cottonseed and groundnut oil, the prices of all oilseeds and oilseeds registered a fall in the Delhi oil-oilseeds market on Thursday. Sources said that the global market is declining, so the government needs to focus on the retail price of edible oil and oilseeds also. Sources said that cottonseed oil prices remained at the previous level as cottonseed crop started arriving in the mandis of Punjab and Haryana. Now soon groundnut and soybean crops will also come in the mandis.

According to sources, this time groundnut crop is good in Rajasthan and Gujarat and after the arrival of new crop, groundnut prices are also expected to break in 20-30 days. Traders said that the condition of oil industry, oil importers and soybean traders is suffering due to the breakdown of oil-oilseeds market and consumers are also not getting any benefit. Soybean grain prices have almost halved as compared to last year.

Sources said that despite the sharp fall in mustard oil-oilseeds prices, MRPs of oil companies remained high. If the situation remains the same, then instead of becoming self-sufficient in the matter of edible oils, the country’s dependence on imports will increase.

Sources said that after the continuous fall in the prices of edible oils in the global markets, the government should convene a meeting of the oil industry and concerned stakeholders and instruct them to bring down the prices. He said that futures trading of crude palm oil, soybean and mustard seeds should not be started. Its closure is only in the interest of the farmers.

The prices of oil and oilseeds remained as follows on Thursday:

▪️Mustard oilseeds – Rs 6,675-6,725 (42 per cent condition price) per quintal.

▪️Groundnut – Rs.6895-7060 per quintal.

▪️Groundnut Oil Mill Delivery (Gujarat) – Rs 15,800 per quintal.

▪️Groundnut Solvent Refined Oil Rs 2,660 – Rs 2,850 per tin.

▪️Mustard oil Dadri – Rs 13,280 per quintal.

▪️Sarson Pakki Ghani – Rs 2,120-2,210 per tin.

▪️Sarson Kachchi Ghani – Rs 2,150-2,265 per tin.

▪️Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal.

▪️Soyabean Oil Mill Delivery Delhi – Rs 12,100 per quintal.

▪️Soybean Mill Delivery Indore – Rs 12,100 per quintal.

▪️Soyabean Oil Degum, Kandla – Rs 10,600 per quintal.

▪️CPO Ex-Kandla – Rs 8,350 per quintal.

▪️Cottonseed Mill Delivery (Haryana) – Rs 12,000 per quintal.

▪️Palmolein RBD, Delhi – Rs 10,200 per quintal.

▪️Palmolein ex-Kandla- Rs.9,000 (without GST) per quintal.

▪️Soyabean grain – Rs 5,225-5,325 per quintal.

▪️Soyabean loose Rs 5,175- Rs 5,275 per quintal.

▪️Maize Khal (Sariska) Rs 4,010 per quintal.