chicago Due to strong exchange last night, the prices of mustard oil-oilseeds, soybean oil, crude palm oil (CPO) and palmolein and cottonseed oil closed strong in the major markets of the country on Saturday. Soybean oilseeds declined due to weak export demand for de-oiled cake (DOC). The prices of groundnut oil and oilseeds remained at the previous level. Market sources said that the prices of mustard oil and oilseeds improved amid decline in the arrival of mustard. The arrival of mustard decreased from 1.80 lakh bags yesterday to 1.40-1.45 lakh bags.
Palm oil prices increased in foreign countries
With the import of palm and palmolein becoming expensive, there is a possibility of increasing pressure on mustard and soybean in the future to overcome the shortage of these oils. Sources said that due to strengthening of palm oil prices abroad, the price of palm oil improved. The cost of importing palmolein oil is Rs 144 per kg and importers have to sell the same oil at the wholesale price of Rs 140 per kg because there is a shortage of buyers at such an expensive price. Apart from this, the traders who have already purchased from importers are selling the same oil at the wholesale price of Rs 136-137 per kg. This will also affect other oils and oilseeds in the coming days.
Crisis of meeting the demand for edible oils
Decrease in import of palm and palmolein will create a crisis in meeting the demand for edible oils. This would be because it takes about 60 days to import soybean from abroad and sunflower oil is not consumed much in North India. In such a situation, care will have to be taken as to which oil will be used to meet the problem of supply of palm-palmo olein. He said that due to the strong closing of Chicago Exchange last night, the price of soybean oil is improving. At the same time, due to weak export and local demand of DOC, the price of soybean oilseeds is falling. There is improvement in cottonseed oil due to increase in the price of cottonseed cake due to fall in the price of cottonseed cake.
The prices of oil and 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 Kachchi Ghani – 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 cake (Sariska) – Rs 4,100 per quintal.
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