Edible Oil Price: Even after the rise in the price of oil in the global market, there has been a decline in the prices of edible oil in the domestic market. There has been a cut in the prices of many oils including mustard oil, soybean. Along with this, there has been no significant change in the prices of some oil. Along with this, even after weak business demand, CPO and palmolein oil prices have seen improvement.
Mustard and refined is much cheaper
Let us tell you that the demand for imported oils is also negligible, due to which the import has decreased by about 13 percent in April this time as compared to last year. Mustard Refined is also much cheaper especially in North India as compared to CPO and Palmolein Oil. The prices of CPO and Palmolein are the only prices, the demand for these oils in the country is negligible. Local consumers are meeting the shortage of imported oils with oils like mustard, groundnut, soybean and cottonseed.
Appeal to increase oil production
The government should appeal to the state governments that attention should be paid to increasing the prices of oil and oilseeds. Along with this, agencies should prepare the stock of mustard available cheaply, which will be useful to us at the time of need. To meet the shortage of imported oils, refined mustard is being prepared on a large scale, despite the production of more mustard than that, there may be a problem with mustard going forward.
Mustard oil becomes cheaper
Sources said that the price of mustard seeds fell by Rs 50 to Rs 7,615-7,665 per quintal as compared to last week. Mustard Dadri oil fell by Rs 100 and closed at Rs 15,300 a quintal. At the same time, the prices of Mustard Pakki Ghani and Kachchi Ghani oil also slipped by Rs 15 each to Rs 2,405-2,485 and Rs 2,445-2,555 per tin (15 kg) respectively.
How much was the price of soybean?
Sources said that despite the rise in overseas markets, the prices of soybean grains and soybean loose ended with a loss of Rs 50 each at Rs 7,000-7,100 and Rs 6,700-6,800 per quintal in the reporting week due to weak DOC demand.
Oil prices fell
Let us tell you that there has been a decline in the prices of groundnut oil and oilseeds in the reporting week against the closing price of the week, but soybean oil prices closed at the previous level in the reporting week amid normal demand.
Let’s check what were the oil prices-
- The price of soybean Delhi has been Rs 17,050.
- Soyabean Indore has been Rs 16,500
- Soyabean degum price closed at Rs 15,550 per quintal
- Groundnut grain by Rs 75, groundnut oil Gujarat declined by Rs 150 to Rs 6,885-7,020 and Rs 15,850 per quintal, respectively.
- Groundnut Solvent Refined also fell by Rs 25 to close at Rs 2,650-2,840 per tin.
- In the week under review, the price of crude palm oil (CPO) also improved by Rs 150 to Rs 15,350 a quintal due to higher prices in the foreign markets.
- The price of Palmolein Delhi improved by Rs 200 to Rs 16,950.
- The price of Palmolein Kandla improved by Rs 120 to close at Rs 15,720 per quintal.
- In the week under review, the price of cottonseed oil fell by Rs 150 to close at Rs 15,600 per quintal.