Edible Oil Prices: Crisis created due to rising prices of palm oil abroad, know the prices of mustard, groundnut and soybean oil

Mustard oil-oilseeds, soybean oil, crude palm oil (CPO), and palm olein and cottonseed oil prices closed with strength in major markets of the country on Saturday due to the Chicago Exchange remaining strong last night. Soybean oil-oilseeds declined due to weak export demand for de-oiled cake (DOC). Groundnut oil-oilseeds prices remained at the previous level. Market sources said that amid a decrease in mustard arrivals, prices of mustard oil-oilseeds improved. Mustard arrivals decreased from yesterday’s 1.80 lakh bags to 1.40-1.45 lakh bags.

Palm oil prices increased abroad.

With the import of palm and palm oil becoming expensive, there is a possibility of increasing pressure on mustard and soybean to overcome the shortage of these oils. Sources said that the price of opalm-Palmolivene oil improved due to the strengthening of palm-Palmolive prices abroad. The cost of importing palmolein oil is Rs 144 per kg and importers have to sell this oil at a wholesale price of Rs 140 per kg because there is a shortage of buyers at such a high price. Apart from this, traders who have already purchased from importers are selling this oil at a wholesale price of Rs 136-137 per kg. This will also affect other oilseeds in the coming days.

The crisis of meeting the demand for edible oils

Decreasing the import of palm-palm olein will create a crisis in meeting demand forforf edible oils. This will happen because it takes about 60 days to import soybeans from abroad and sunflower oil is not consumed much in North India. In such a situation, attention will have to be paid as to which oil will meet the problem of supply oof palmoleinn. He said that due to the strong closing of the Chicago Exchange last night, there is an improvement in the price of soybean oil. At the same time, due to weak exports of DOC and local demand, there is a fall in the price of soybean oilseed. Due to the fall in the price of cottonseed cake, the increase in the price of cottonseed cake has improved cottonseed oil.

The prices of oilseeds were as follows:

• Mustard oilseeds – Rs 6,575-6,625 per quintal.
• Groundnut – Rs 6,250-6,625 per quintal.
• Groundnut Oil Mill Delivery (Gujarat) – Rs 14,500 per quintal.
• Groundnut Refined Oil – Rs 2,185-2,485 per tin.
• Mustard oil Dadri – Rs 13,725 per quintal.
• Mustard Pakki Ghani – Rs 2,275-2,375 per tin.
• Mustard Crude Oil – Rs 2,275-2,400 per tin.
• Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal.
• Soybean oil mill delivery Delhi – Rs 13,885 per quintal.
• Soybean mill delivery Indore – Rs 13,850 per quintal.
• Soybean oil Degum, Kandla – Rs 9,885 per quintal.
• CPO ex-Kandla – Rs 13,400 per quintal.
• Cottonseed Mill Delivery (Haryana) – Rs 12,800 per quintal.
• Palmolein RBD, Delhi – Rs 14,750 per quintal.
• Palmolein ex-Kandla – Rs 13,700 (without GST) per quintal.
• Soybean grain – Rs 4,300-4,350 per quintal.
• Soybean loose – Rs 4,000-4,035 per quintal.
• Maize bran (Sariska) – Rs 4,100 per quintal.