Edible Oil Price: There has been no significant change in the prices of edible oil. After a steady rise in the global market, the oil prices in the domestic market have remained the same. There was no significant fluctuation in the prices of all oils including mustard, groundnut, soybean. Apart from this, there has been an improvement in soybean Indore oil prices.
How was business in Chicago Market?
Let us tell you that there was a rise of 1.5 percent in the Chicago Exchange and its effect will be seen at the beginning of next week’s trading. Apart from this, there is no special business in CPO, Soyabean Degum and Palmolein and imports have also been affected due to cheaper domestic oil than imported oils.
No effect of import duty hike
The decision to increase the import duty of CPO, Palmolein and Soyabean degum late at night did not have any effect on business due to lack of demand despite a boom in foreign markets.
Mustard problem may come ahead
At this time, the government should appeal to the state governments on its behalf that the procurement agencies should buy mustard at market rates and make stock which can be useful in times of need and we do not have to turn to foreign markets. Indigenous oils like mustard, groundnut, soybean and cottonseed are much cheaper than imported oils and the shortage of imported oils is being met by indigenous oils, but the large scale of refined mustard being made may lead to mustard problems going beyond .
Mustard oil is used in every household
Let us tell you that mustard oil is the cheapest in edible oil at this time and the demand is also highest because mustard oil is used all over North India. Here mustard oil is used every day in every household and there is no substitute for it.
Let’s check the latest oil prices-
Mustard oilseeds – Rs 7,615-7,665 (42 per cent condition rate) per quintal
Groundnut – Rs 6,885 – Rs 7,020 per quintal
Groundnut Oil Mill Delivery (Gujarat) – Rs 15,850 per quintal
Groundnut Solvent Refined Oil Rs 2,650 – Rs 2,840 per tin
Mustard oil Dadri – Rs 15,300 per quintal
Sarson Pakki Ghani – Rs 2,405-2,485 per tin
Mustard Kachhi Ghani – Rs 2,445-2,555 per tin
Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal
Soyabean Oil Mill Delivery Delhi – Rs 17,050 per quintal
Soybean Mill Delivery Indore – Rs 16,500 per quintal
Soyabean Oil Degum, Kandla – Rs 15,550 per quintal
CPO Ex-Kandla – Rs 15,350 per quintal
Cottonseed Mill Delivery (Haryana) – Rs 15,600 per quintal
Palmolein RBD, Delhi – Rs 16,950 per quintal
Palmolein Ex-Kandla – Rs 15,720 (without GST) per quintal
Soyabean grain – Rs 7,000-7,100 per quintal
Soyabean loose Rs 6,700- Rs 6,800 per quintal
Maize Khal (Sariska) Rs 4,000 per quintal