Edible Oil Price Update: Due to the fall in the prices of edible oil in the global market, all oil prices including mustard, groundnut, soybean, CPO, palmolein, cottonseed have seen a fall. Apart from this, other oil prices have remained stable. The market of edible oil has slipped a lot in foreign countries as compared to last week, the effect of which is being seen in the domestic market as well.
loss to importers
Let us tell you that due to this decline the importers of the country are suffering a lot. For the importers, the situation has come to sell the edible oil imported at a higher price at less than half the price. They are facing the problem of paying the bank loan. Apart from this, banks are shying away from giving them letters of credit for further deals.
15 per liter deduction
Sources said that as part of the government’s initiative to further reduce the prices of edible oils, a meeting was held with the representatives of edible oil companies in which the MRP of edible oil is further cut by about Rs 15 per liter and the global oil prices will be reduced further. Instructions were given by the government to ensure that the benefit of the decline fell to the common consumers.
MRP decreased by about Rs 10
After a meeting held earlier also, the MRP was reduced by about Rs 10. Companies like Dhara brand have also taken the initiative to cut edible oil prices. Regarding this, sources said that when the ‘MRP’ was already around Rs 50 per liter more than the wholesale price and even after cutting it by Rs 15, then the benefit of the fall in global edible oil prices will be taken by the general consumers or the oil industry or Where did the importers come from?
Mustard arrival decreased
Sources said that the arrival of mustard in the mandis has reduced considerably. On Saturday, the arrival of mustard in the mandis was the lowest i.e. in the range of 1.20-1.50 lakh bags. In the coming festive season, problem can be felt with respect to mustard because no one has prepared its stock due to the fear of ‘stock limit’, whatever mustard is there, it is with the farmers.
Mustard oil prices fall
Sources said that the price of mustard seeds declined by Rs 190 to Rs 7,295-7,345 per quintal last week as compared to last weekend. Mustard Dadri oil closed at Rs 14,650 a quintal with a fall of Rs 500 in the weekend under review. On the other hand, mustard, Pakki Ghani and Kachchi Ghani oil prices also declined by Rs 65 each to Rs 2,315-2,395 and Rs 2,355-2,460 per tin, respectively.
Check Soyabean Rates
Sources said that in view of the sharp fall in the global markets, wholesale prices of soybean grains and loose fell by Rs 150 and Rs 250, respectively, at Rs 6,350-6,400 and Rs 6,050-6,100 per quintal, respectively, in the week under review.
There was also a loss in soybean oil prices in the week under review. The wholesale price of Soyabean Delhi declined by Rs 400 to Rs 13,700, Soyabean Indore fell by Rs 600 to Rs 13,200 and Soyabean Digum by Rs 250 to Rs 12,150 per quintal.
Groundnut rates fell by Rs 180
Groundnut oilseeds prices fell by Rs 55 to Rs 6,710-6,835 per quintal during the weekend under review. Groundnut oil Gujarat closed at Rs 15,530 per quintal with a fall of Rs 180 against the previous weekend’s closing price, while Groundnut Solvent Refined fell by Rs 25 to Rs 2,610-2,800 per tin.
Palmolein oil became cheaper by Rs 400
After a strong fall in oil prices in the foreign markets in the week under review, the price of crude palm oil also fell by Rs 400 to Rs 10,900 per quintal, the price of Palmolein Delhi fell by Rs 400 to Rs 12,800 and Palmolein Kandla fell by Rs 550 to Rs 11,550 per quintal. Happened. In line with the general trend of decline in the week under review, the price of cottonseed oil also closed at Rs 13,850 per quintal with a loss of Rs 300. By the way, business in cottonseed is almost over.