Big upheaval in the edible oil market before the festival! Know which oil became cheaper and whose price increased

New Delhi: Last week, a mixed trend was seen in the oil and oilseeds market of the country. There was a decline in the prices of imported edible oils, while a slight improvement was seen in the prices of mustard, groundnut and cottonseed oil. Market experts say that on one hand, imported oils continued to be sold at prices below their cost, while on the other hand, demand for the upcoming festive season strengthened domestic oils.

According to market sources, importers have been selling soybean and palm-palmo olein oil below cost for a long time. The main reason for this is said to be the need for cash and maintaining the credit cycle of banks. For this reason, a decline was recorded especially in the prices of soybean oil and palm-palmo olein oil during the week.

On the other hand, due to preparations for festivals like Raksha Bandhan and Janmashtami, the demand for companies making sweets and snacks is continuously increasing. The effect of this increasing demand was visible on the market of mustard, groundnut and cottonseed oil, due to which their prices improved.

Sources said soybean processing units are cutting purchase rates with the aim of purchasing from farmers at lower prices. Due to this, farmers are avoiding selling at low prices and the arrival of soybean in the market is getting limited. However, the reduction in purchase prices also affected the prices of soybean oil and oilseeds.

key market prices

Mustard seeds closed at Rs 8,150-8,175 per quintal with a gain of Rs 75.
-Mustard oil Dadri increased by Rs 75 to Rs 16,625 per quintal.
Mustard pure and crude ghani oil remained stable at Rs 2,705-2,805 and Rs 2,705-2,855 per 15 kg tin, respectively.
-Soybean grain fell by Rs 100 and soybean loose by Rs 75 to close at Rs 7,450-7,500 and Rs 7,325-7,400 per quintal respectively.
-Delhi soybean oil fell by Rs 75 to Rs 15,750 per quintal, Indore soybean oil fell by Rs 75 to Rs 15,600 and Degum soybean oil fell by Rs 100 to close at Rs 12,250 per quintal.
-Groundnut oilseed rose by Rs 25 to Rs 7,375-7,950 per quintal.
-Gujarat groundnut oil rose by Rs 100 to Rs 17,100 per quintal and groundnut solvent refined oil rose by Rs 15 to close at Rs 2,680-2,980 per tin.
-CPO oil fell by Rs 50 and closed at Rs 13,800 per quintal.
Palmolein Delhi fell by Rs 125 to Rs 15,700 per quintal and Palmolein Ex-Kandla fell by Rs 125 to close at Rs 14,500 per quintal.
Cottonseed oil closed at Rs 16,750 per quintal with a rise of Rs 250.

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