malaysia As the exchange continued to fall, the prices of all oil and oilseeds fell in the major markets of the country on Wednesday. During this period, the prices of mustard, groundnut and soybean oil-oilseeds, crude palm oil (CPO) and palmolein and cottonseed oil closed with a decline. However, despite this fall, there was no impact on the retail prices of edible oils. Market sources said that due to the continued decline in edible oils in Malaysia Exchange, the prices of all edible oils and oilseeds were affected and the wholesale prices of edible oils fell. But no effect of this decline was visible in the retail market.
Palm oil is costlier than local oils
Inflation persists in the retail market due to keeping the maximum retail price (MRP) of edible oils very high. There is a decline of 1-1.5 percent in Malaysia Exchange. Whereas there are ups and downs in Chicago Exchange. Sources said that the prices of palm and palmolein are sometimes being increased and sometimes reduced. But the price of these oils is about 2-7 percent more than edible oils like soybean, groundnut, mustard and it is difficult to consume palm and palmolein anywhere in the world at such high prices. Due to this inflation, Malaysia’s exports have also decreased.
low production of cotton
He said that last year cotton production was about 325 lakh bales, which also included the earlier leftover stock. Despite this, cotton was consumed till the month of August. This year the production of cotton is about 299.5 lakh bales, but now the consumption has also increased by about 10 percent. In view of this low production, Cotton Corporation of India (CCI) should not sell cotton seeds at low prices, due to which the prices of other oils and oilseeds are being affected. In view of the low production situation, CCI should stock cotton seed or sell cotton seed as per the actual cost of cotton, so that the business sentiment is not affected.
Prices of all oils fell
He said that in the current season, cotton from Gujarat and Maharashtra is of better quality and there is dryness also. Due to this selling at low prices, speculators and traders are buying cotton seeds from CCI at lower prices and stocking them. Going forward the demand for cotton seed will increase and we will have to prepare for that situation from now on. Due to the breakdown of Malaysia Exchange, the prices of mustard oil and oilseeds also declined. Whereas soybean oil and oilseeds declined due to weak demand. The price of cottonseed oil has also declined due to the sale of cottonseed seeds at lower prices by CCI. There was a decline in groundnut oil and oilseeds due to weak export demand. Whereas the prices of CPO and palmolein fell due to the collapse of Malaysia Exchange.
The prices of oil and oilseeds were as follows:
- Mustard oilseeds – Rs 6,450-6,500 per quintal.
- Groundnut – Rs 6,100-6,425 per quintal.
- Groundnut Oil Mill Delivery (Gujarat) – Rs 14,475 per quintal.
- Groundnut refined oil – Rs 2,195-2,495 per tin.
- Mustard oil Dadri – Rs 13,450 per quintal.
- Mustard Pakki Ghani – Rs 2,245-2,345 per tin.
- Mustard Kachchi Ghani – Rs 2,245-2,370 per tin.
- Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal.
- Soybean oil mill delivery Delhi – Rs 13,400 per quintal.
- Soybean Mill Delivery Indore – Rs 13,300 per quintal.
- Soybean oil Degum, Kandla – Rs 9,575 per quintal.
- CPO ex-Kandla – Rs 13,175 per quintal.
- Cottonseed Mill Delivery (Haryana) – Rs 12,300 per quintal.
- Palmolein RBD, Delhi – Rs 14,400 per quintal.
- Palmolein ex- Kandla – Rs 13,400 (without GST) per quintal.
- Soybean grain – Rs 4,125-4,175 per quintal.
- Soybean loose – Rs 3,825-3,860 per quintal.
- Maize cake (Sariska) – Rs 4,100 per quintal.
(With inputs from PTI/Language)
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