New Delhi: Apart from registering a slight improvement in mustard oil and crude ghani oil due to winter demand, the prices of all other oils and oilseeds in the country's edible oil-oilseeds market closed with a decline last week due to fall in the prices of edible oils abroad. The prices of mustard oilseeds and mustard dadri oil remained at the previous level. Market knowledgeable sources said that the daily consumption of mustard is 3.5-4 lakh bags and at present there is no problem of mustard supply due to balanced selling of mustard by cooperative institutions like HAFED and NAFED. The extent to which the prices of edible oils have fallen in foreign countries, it has not had much impact here. Amidst this situation, the prices of mustard seeds (oilseeds) and mustard dadri oil remained at the level of the previous weekend, while a slight improvement of Rs 5 each quintal was recorded in the prices of mustard pure and raw ghani oil.
Sources said that the demand for groundnut is weak due to weak export demand and low prices of cottonseed and soybean. Peanuts are not being consumed. Cottonseed and groundnut oil are mostly consumed in Gujarat. There was a decline in groundnut oil and oilseeds due to weak demand. Sources said that soybean is being procured by the government, but farmers also know that it is difficult to purchase their entire produce. Government procurement may be a short-term solution, but it is not a permanent arrangement. Developing the market for indigenous oil and oilseeds can only be a permanent solution to this.
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Fall in soybean oil price
Amid the fall in the prices of edible oils abroad, there was a significant decline in the prices of soybean oil and oilseeds in the country. Sources said that before last week the price of CPO was $ 1,270-1,275 per tonne, which came down to $ 1,180-1,185 per tonne last week. The reduced price of CPO still remains about Rs 10 per kg higher than that of soybean. It is difficult to purchase CPO and Palmolein anywhere at this price. Amidst this situation, a decline in the prices of CPO and palmolein oil was seen in the week under review. He said that some impact of the fall in the prices of edible oils and oilseeds abroad was also seen on the domestic oils and oilseeds.
Like all oils and oilseeds, the prices of cottonseed oil also declined due to soybean shortage in foreign countries. Only 10-11 percent oil comes out in cottonseed while the rest comes out of cake. Sources said that in states like Punjab and Haryana, there was a ready-made market for cotton Narma, but under the guise of futures trading, an attempt was made to 'loot' the cotton Narma from farmers by undermining the price of cottonseed meal, which led to the collapse of the ready-made market. . Due to this future trading, the price of cotton Narma in Haryana and Punjab, which was earlier Rs 8,000-8,200 a quintal, has come down to Rs 6,800-7,000 a quintal due to the breaking of the price of cottonseed meal in the futures trading. The government should permanently ban futures trading of edible oils and oilseeds.
wholesale price of mustard seeds
Last week, the wholesale price of mustard seeds closed at Rs 6,500-6,550 per quintal. The wholesale price of Mustard Dadri oil remained unchanged at Rs 13,525 per quintal. But due to winter demand, the prices of Mustard Pakki and Kachchi Ghani oil witnessed a slight improvement of Rs 5 each to close at Rs 2,265-2,365 and Rs 2,265-2,390 per tin (15 kg) respectively. In the week under review, wholesale prices of soybean grains and soybean loose fell by Rs 50 each to close at Rs 4,175-4,225 and Rs 3,875-3,975 per quintal respectively.
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