Indian Oilseeds Market: Oil-oilseeds prices showed a declining trend in the Delhi oil-oilseeds market on Monday amid a rising trend in foreign markets and soyabean oilseeds and cottonseed oil prices closed with losses. Same was the case with the Indian stock market. Mustard, groundnut, soybean oil, CPO and palmolein oil prices remained flat amid tight supplies in edible oils.
Because of this oil is being sold 10 percent costlier
In general, sunflower and soybean degum oils are selling dearer by about 10 per cent due to short supply. He said that to end this short supply situation, an import duty of 10 per cent should be imposed on sunflower and soybean oil by abolishing the quota system. This will benefit the farmers as they will get good prices for their oilseeds, the consumers will benefit from the increased supply and the oil mills will get relief from the broken market due to cheap imported oils and the government will also get revenue.
Businessmen gave information
Traders said that the cost of cottonseed oil and cake is more than the market rate. Due to low soft prices, farmers are bringing less crop to the mandis. The growing dependence on imports for edible oils and the need to get out of the trap of spending huge amounts of foreign exchange for the same. The only way for this is to increase oilseed production in the country by giving remunerative prices to the farmers.
The prices of oil and oilseeds remained as follows on Monday:
Mustard oilseeds – Rs.7,300-7,350 (42 percent condition rate) per quintal.
Groundnut – Rs.6,585-6,645 per quintal.
Groundnut oil mill delivery (Gujarat) – Rs 15,100 per quintal.
Groundnut refined oil Rs 2,445-2,705 per tin.
Mustard oil Dadri – Rs 14,850 per quintal.
Mustard Pakki Ghani – Rs 2,250-2,380 per tin.
Mustard raw Ghani – Rs 2,310-2,435 per tin.
Sesame oil mill delivery – Rs 18,900-21,000 per quintal.
Soybean oil mill delivery Delhi – Rs 14,200 per quintal.
Soybean Mill Delivery Indore – Rs 13,800 per quintal.
Soybean oil Degem, Kandla – Rs 12,750 per quintal.
CPO X-Kandla – Rs 8,550 per quintal.
Cottonseed Mill Delivery (Haryana) – Rs 12,500 per quintal.
Palmolein RBD, Delhi – Rs 10,300 per quintal.
Palmolin X- Kandla – Rs 9,400 (without GST) per quintal.
Soybean seed – Rs 5,650-5,750 per quintal.
Soybean loose Rs.5,460-5,510 per quintal.
Maize Khal (Sariska) Rs 4,010 per quintal.
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