Highlights
- Mustard and cottonseed oil prices fell on Saturday in oil-oilseed markets across the country.
- Soybean grain and loose prices improved due to non-selling at low prices
- Mustard Pakki Ghani and Kachchi Ghani oil prices fell by Rs 75 each to Rs 2,465-2,590 and Rs 2,645-2,755 per tin, respectively.
Edible Oil Price Fall: Despite the increasing demand for light oils in the winter, due to unprepared trading, the prices of most oilseeds, including soybean, mustard, cottonseed, CPO and palmolein, closed showing losses in the major oil-oilseed markets of the country last week. Traders said that the export demand for Soyabean Oil-free Oil (DOC) has remained very low as compared to last year, which is local demand. Apart from this, there is a loss of Rs 5-7 per kg in crushing oil to the soybean plant, due to which the price of soybean grain and loose fell in the week under review. The planters are forced to sell their goods in the market at a price lower than the cost, and this haphazard business is troubling the oil industry, farmers and oil importers.
These traders have to buy oilseeds from the market at a higher price, while the prices of cheap imported oils are lower in the market, due to which these traders have to spend their goods in the market cheaply. That is, millers, plants, importers are all facing heavy losses.
He said that on importing millers from abroad, adding CPO profit, the price is Rs 111 per kg, while its price in the market is Rs 108 per kg. Same is the case with palmolein, where the market price is Rs 4-5 per kg more than the cost. The importers are in dire straits in such unadulterated business conditions.
He said that 50 percent of the cotton oil mills have been closed due to the sloppy business. Cottonseed grains have to be bought at a higher price whereas the price of cottonseed oil and oil is cheaper in the market.
Railways canceled 16 trains, changed route of 19, know now what has happened to the new time table
problems faced by importers
According to sources, oil importers are troubled by the slow and fast daily. Second, they have trouble with futures trading. Due to this, the risk of sinking of loans taken from banks for business by importers is increasing, who are resorting to negligent business to rotate their credit limits in banks. Now the bankers have put oil traders in the negative list and are showing hesitation in giving them loans.
Sources said that when the prices are still going down in the futures trade, it means availability is sufficient, then why import of edible oils. He said that the government has to look into why the traders and importers of the country, which are dependent on about 65 per cent imports for their edible oil requirements, have to sell oils at unmatched rates. He urged the government to look into the obligation to sell it at a price below the cost.
Some time ago, traders, oil mills and farmers had emptied all their stocks of mustard amid discussions about the implementation of the stock limit. Due to this, there was a fall in the price of mustard oil and oilseeds in the week under review. The availability of mustard has become very less and there is still a delay of two-and-a-half months in the arrival of its next mature crop. This time the next crop of mustard is likely to be bumper due to the good price of mustard to the farmers. This time the area under sowing has increased considerably.
Sources said the CPO and importers of palmolein are also facing a loss of Rs 3-4 per kg of oil. The prices of CPO and Palmolein oil also closed with a fall in the week under review due to costlier in the international market and reduced demand for the winter season.
What is the new price of mustard oil?
Sources said that the price of mustard seeds fell by Rs 300 to Rs 8,500-8,525 per quintal last week from Rs 8,800-8,825 per quintal last week, sources said. Sarson Dadri oil prices declined by Rs 550 to Rs 16,600 a quintal during the weekend under review. On the other hand, mustard, pakki ghani and kachi ghani oil fell by Rs. 75 each to Rs. 2,465-2,590 and Rs. 2,645-2,755 per tin, respectively.
Sources said soyabean grains and soybean loose prices fell by Rs 175-175 to Rs 6,375-6,475 and Rs 6,225-6,275 per quintal, respectively, during the weekend under review.
Soybean Delhi, Soyabean Indore and Soyabean Degum prices closed at Rs 12,780, Rs 12,450 and Rs 11,400 per quintal, showing a loss of Rs 170, Rs 250 and Rs 140, respectively, in the week under review due to increased arrival of new soybean crop. Happened.
Groundnut grain (oilseeds) declined due to impact on the demand for groundnut DOC after the arrival of new groundnut crop increased in the mandis of Rajasthan and Gujarat. On the other hand, contrary to the general trend of decline, groundnut Gujarat oil prices improved by Rs 40 per quintal in the week under review due to local demand for groundnut oil in Gujarat. Groundnut prices declined marginally by Rs 25 to Rs 5,675-5,760 per quintal amid normal business in the week under review. On the other hand, groundnut oil in Gujarat improved by Rs 40 to Rs 12,540 per quintal due to increase in local demand. While the price of groundnut solvent refined remained unchanged.
Crude palm oil (CPO) fell by Rs 230 to close at Rs 10,750 a quintal during the weekend under review due to demand hit. While the price of Palmolein Delhi declined by Rs 380 to close at Rs 12,200 per quintal. Palmolein Kandla oil fell by Rs 300 to Rs 11,150 per quintal. Cottonseed oil prices closed at Rs 11,450 per quintal, showing a fall of Rs 250.
Frozen Green Peas Business Idea: Sell only 20 rupees peas like this for 200 rupees, earn big profit!
.