Edible oil price update: The fall in global crude oil prices has also led to a fall in domestic crude oil prices. In Delhi, almost all oilseeds closed lower on Friday. Peanut and cotton oil prices remained stable due to demand for domestic oil. At the same time, the price of mustard oil has come down.
The Malaysian exchange fell 7 percent
The market is currently down 4.25 per cent on the Malaysia exchange after falling seven per cent in morning trade, while the Chicago exchange is currently down 1.5 per cent, traders said. The fall in overseas markets has led to lower prices of soybean dagm, crude palm oil (CPO) and palm oil. Due to the downturn in overseas markets, domestic oilseeds became slightly cheaper than imported oil.
The availability of mustard is declining
The availability of mustard in the country has been steadily declining and the demand for mustard is expected to be around 4 to 4.25 lakh bags per day during the coming festivals, while the arrival of mustard has come down to 2.25 lakh bags. Going forward, there will be a shortage of mustard and there is no alternative to this oil. With the exception of farmers, oil mills, traders and stockists, they have very low stocks of mustard due to stock limits.
Importers are suffering huge losses
Sources said that soybean oil prices have come down due to fall in prices abroad. The price at which importers bought soybean and palm oil. After the market breaks down, they have to sell their imported oil below Rs 40-50 per kg compared to the import price. On the other hand, the sharp fall in the rupee against the dollar has forced these importers to pay more for their loans. Importers are suffering huge losses.
Let’s check the latest oil prices-
- Mustard oilseeds – Rs 7,510-7,560 (42 per cent condition rate) per quintal
- Groundnut – Rs. 6,765 – Rs. 6,890 per quintal
- Peanut Oil Mill Distribution (Gujarat) – Rs. 15,710 per quintal
- Groundnut Solvent Refined Oil Rs. 2,635 – Rs. 2,825 per tin
- Mustard oil Dadri – Rs. 15,250 per quintal
- Mustard pucca ghani – Rs 2,385-2,465 per tin
- Mustard raw ghani – Rs 2,425-2,530 per tin
- Sesame Oil Mill Delivery – Rs.17,000-18,500 per quintal
- Soybean Oil Mill Delivery Delhi – Rs 14,250 per quintal
- Soybean Mill Delivery Indore – Rs 13,850 per quintal
- Soybean Oil Degam, Kandla – Rs. 12,600 per quintal
- CPO X-Kandla – Rs. 11,350 per quintal
- Cotton Seed Mill Distribution (Haryana) – Rs. 14,150 per quintal
- Palmolin RBD, Delhi – Rs. 13,250 per quintal
- Palmolin X-Kandla – Rs 12,200 (excluding GST) per quintal
- Soybean Grain – Rs. 6,600-6,650 per quintal
- Soybeans range from Rs 6,400 to Rs. 6,450 per quintal
- Maize Khal (Sariska) Rs. 4,010 per quintal