A large number of edible oils are being imported in the country, due to which the price of soybean and sunflower oil has dropped significantly in the market recently. Markets are full of imported oil, so this week there was an all-round fall in oil prices in Delhi’s oil-oilseed market, but this fall in oil prices can affect poultry products like milk, eggs and chicken and their Prices may increase.
India imports 60 percent of its edible oil requirement. Although bumper production of soybean and mustard is expected this time, there is also an apprehension regarding the continuous import of oil that it may adversely affect the domestic crop.
The price of sunflower oil is Rs 100
PTI has quoted market sources as saying that in the last few days several orders have been placed for duty free import of edible oils under the quota system. The prices of soybean and sunflower oil have come down to around Rs 100 per liter (wholesale price after processing). Sunflower oil, which was priced at Rs 200 per liter 6 months ago, has come down to Rs 100 per liter in the last two to four days.
milk-egg-chicken prices may increase
Sources said that about 40-42 percent oil comes out in mustard. Now that the market is flooded with cheap imports, how the potential mustard production of about 125 lakh tonnes will be consumed in the coming days is a matter of concern. 60 percent of the edible oil is imported in the country and in such a situation, the stock of indigenous oil and oilseeds is lying in the market, it is a big windfall.
Market sources say that when oil prices are cheap, the price of khal becomes expensive. The reason for this is that to make up for the loss of oil, oil traders make up for it by increasing the price of oil. Animal feed will become costlier as Khal, Deoiled Cake (DOC) becomes costlier. Due to this, the prices of milk and milk products will increase in the market, as well as poultry products like eggs and chicken will also become expensive.
Cheap in bulk, expensive in retail oil
Market sources say that the government should now stop duty free import of oils. When this system was implemented, the prices of edible oils were crashing. But the arbitrary determination of the maximum retail price (MRP) of the oil companies did not show its effect in the retail market. As a result, common customers continued to get expensive oil.
Despite oil prices in the global market being almost halved, the price of oil in India’s retail market remains high.
Mustard oil price came down by Rs 50
In the last week, the prices of Mustard Pakki Ghani and Kachi Ghani oil have come down by Rs 50-50. It reached Rs 2,075-2,105 and Rs 2,035-2,160 per tin (15 kg) respectively.
Apart from this, the price of soybean oil ranged from Rs 11,100 to Rs 12,900 per quintal. While groundnut oil remained at Rs 15,500 per quintal and groundnut solvent refined declined by Rs 45 to Rs 2,445-2,710 per tin.
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