Most of the oilseeds improve prices due to decrease in arrivals in mandis amid dry season

New Delhi: Due to reduced arrival of oilseeds by the farmers in the mandis during the dry season, the prices of most of the oilseeds improved in the country’s wholesale oil-oilseed market on Saturday and mustard, groundnut and soybean oil-oilseed and cottonseed oil prices closed strong. Crude palm oil (CPO) and palmolein oil prices remained flat due to the closure of the Malaysia Exchange today.Market sources said soybean prices were lower at kisan mandis amid fears of impact on soybean productivity amid dry weather in producing states. They are bringing and their eyes are fixed on the rain ahead. Due to this shortfall in arrivals, a firm trend was established in the prices of oilseeds and most of the oilseeds became firm. However, mustard and sunflower are being sold well below their minimum support price (MSP). The Meteorological Department estimates that the rains will increase in the month of September.

Sources said that in the current situation, the price of sunflower oil, which was about Rs 200 a liter (ie $ 2,500 a tonne) about 15 months ago, has come down to Rs 80 a liter (about $ 1,000 a tonne) and at the ports the same price is being charged. Sunflower oil is being sold at Rs 76 per litre. That is, the country which depends on the import of about 15 million tonnes of edible oil for its needs, where edible oil is sold at 3-5 percent less than the import cost, it is a completely opposite story. Sources said that on the other hand, in Malaysia and Indonesia, About 80 million tons of palm oil is produced in a year and they are reluctant even to reduce the price of their oil by one dollar. This whole incident tells two different stories.

Sources said that if the indigenous oil oilseeds become unusable after the flood of cheap imports and become uncompetitive in the market, when the work of the indigenous oil crushing mills comes to a standstill, the condition of the country’s oil industry and the farmer will deteriorate due to high cost. Banks are at risk of loan default and above all, if the consumers do not get the same oil at a cheaper rate due to the maximum retail price (MRP) being set much higher than necessary, then who will take the responsibility for all these situations? Sources said that the oil organizations should have warned the government about all these things well in time. He said that the demand for edible oils will further increase in the next one week. The arrival of soybean is weak, there is a huge shortage of cottonseed and groundnut and the situation will improve only after the new crop in October, for the time being the shortage of cottonseed and groundnut can be handled only by the import of sunflower oil.

How long will the loss-making business in imported oil continue and under these circumstances, there is a possibility that the import of soft oil will be affected. The festival season is near, so what will be the status of supply of edible oils in the country i.e. what are the details of import from foreign countries in July-August, oil organizations should clearly bring it before the government so that the status of supply at the time of festivals be well Oil organizations should fulfill this responsibility.

Sources said that in Maharashtra’s Latur, the price of soyabean has been increased from Rs 5,200 to Rs 5,300 a quintal amid less arrival. This is because the farmers are keeping an eye on the rain ahead and they are not taking out their goods. Sources said that the oil organizations will also have to keep an eye on the situation as to who are doing unscrupulous business in the country and how to deal with this problem. I should inform the government.

The prices of oil and oilseeds remained as follows on Saturday:

Mustard oilseeds – Rs.5,650-5,700 (42 percent condition rate) per quintal.

Groundnut – Rs 7,815-7,865 per quintal.

Groundnut oil mill delivery (Gujarat) – Rs 18,600 per quintal.

Groundnut refined oil Rs 2,725-3,010 per tin.

Mustard oil Dadri – Rs 10,675 per quintal.

Mustard Pakki Ghani – Rs 1,780 – 1,875 per tin.

Mustard Kachhi Ghani – Rs 1,780 – 1,890 per tin.

Sesame oil mill delivery – Rs 18,900-21,000 per quintal.

Soybean oil mill delivery Delhi – Rs 10,160 per quintal.

Soybean Mill Delivery Indore – Rs 10,075 per quintal.

Soybean oil Degum, Kandla – Rs 8,350 per quintal.

CPO X-Kandla – Rs 8,210 per quintal.

Cottonseed Mill Delivery (Haryana) – Rs 9,100 per quintal.

Palmolin RBD, Delhi – Rs 9,385 per quintal.

Palmolin X- Kandla – Rs.8,550 (without GST) per quintal.

Soybean grain – Rs 5,205-5,300 per quintal.

Soybean loose – Rs 4,970-5,065 per quintal.

Maize Khal (Sariska) – Rs 4,015 per quintal.