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HomeBusinessMustard and CPO strong, rest of oilseeds prices stable

Mustard and CPO strong, rest of oilseeds prices stable

New Delhi, Aug 27 (PTI) Demand for light oil was seen on the Chicago Exchange amid a rally. Crude palm oil prices also remained firm on account of irregular trading with slight improvement in mustard prices. On Monday, the prices of rest of the oilseeds remained at the previous level in the Delhi oil-oilseeds market.

Informed sources in the market said the Malaysia Exchange was down one per cent, while the Chicago Exchange was up 0.6 per cent.

He said that the price of mustard seed in Saloni Shamsabad was increased from Rs.8,100 to Rs.8,200 a quintal. After this, there was a slight improvement in the prices of all mustard oil and oilseeds. While the CPO also showed improvement due to the unadulterated business, the demand is not there. Importers are insisting on taking palmolein as the price of palmolein is lower than the CPO.

He said that this year’s mustard production will increase significantly as farmers had got good price of mustard in the previous season. If there is no untimely rain in the middle, then the next crop of mustard is expected in the mandis by about February 15 and the fully mature crop by the first week of March. Till then the market volatility will continue. The availability of mustard is continuously getting less and less.

Sources said that in the light of past experiences, this time the government should focus on maintaining a permanent stock of 7-8 lakh tonnes while procuring around 3 million tonnes of mustard in April-May to cooperatives Hafed and Nafed. This will be done so that the problem does not recur in the future and the farmers also get a good price. Refining of new mustard should also be banned.

He said that there is a demand for light oils in winters. While the prices of groundnut oil – oilseeds, soybean oilseeds and other oils remained at the previous level amid normal trading.

The wholesale price in the market was as follows- (Rs. per quintal)

Mustard oilseeds – 7,980 – 8,030 (42 percent condition price) Rs.

Groundnut – Rs 5,725 – 5,810.

Groundnut Oil Mill Delivery (Gujarat) – Rs 12,700.

Groundnut Solvent Refined Oil Rs 1,860 – Rs 1,985 per tin.

Mustard oil Dadri – Rs 16,010 per quintal.

Sarson Pakki Ghani – Rs 2,395 -2,520 per tin.

Sarson Kachchi Ghani – Rs 2,575 – Rs 2,685 per tin.

Sesame Oil Mill Delivery – Rs.16,700 – Rs.18,200.

Soyabean Oil Mill Delivery Delhi- Rs 12,810.

Soybean Mill Delivery Indore – Rs 12,450.

Soyabean Oil Degum, Kandla – 11,400

CPO Ex-Kandla – Rs 10,750.

Cottonseed Mill Delivery (Haryana) – Rs 11,550.

Palmolein RBD, Delhi- Rs 12,220.

Palmolein Ex- Kandla- 11,160 (without GST).

Soyabean grain 6,500 – 6,550, Soyabean loose 6,300 – 6,350 Rs.

Makkah Khal (Sariska) Rs 3,850.

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