Sunday, 28 March 2021

Edible oil Oil Prices in Market

On Friday, the Delhi oil-oilseed market saw softening in various edible oils, amid declining trends in palm oil and soybean oil in overseas markets. Soyabean Digam (Kandla) declined by Rs 150 per quintal and palmolein RBD and palmolein Kandla by Rs 100-100 per quintal.

A softening of Rs 50 was recorded in groundnut seed. While the prices of mustard oil remained at the previous level.

Prices of other oil-oilseeds also remained at earlier levels. The price of palm oil in Malaysia went down by 4.5 percent today. Similarly, prices of soybean oil went down by 4.25 percent yesterday in the Chicago commodity market and circuit breakers had to be installed at the bottom of the market. On Friday too, prices were down by almost one percent. Sources said that the current stock of mustard is over while consumption is high. In such a situation, the government should stop its refining and stock Nafed mustard at the market price so that it can intervene in the market on time.

Market people said that at this time mustard oil is making its own place. At present, the price of mustard is comparatively lower than other edible oils. Mustard oil is being produced without using any other oil due to the high price of other oils. Mustard refined is also being made.

Experts say that the production of mustard refined should be discouraged like in the 1980s–1990s, given the mustard yield and stock situation in the new season. According to the data of the oil industry, the country is estimated to produce 89.5 lakh tonnes of mustard this year.

The current wholesale price in the market obserevd:

Mustard Oilseeds - 5,850 - 5,900 (42% Condition Price) Rs.

Peanut seed - Rs 6,205 - Rs 6,270.

Peanut Oil Mill Delivery (Gujarat) - Rs 15,250.

Groundnut Solvent Refined Oil Rs 2,460 - Rs 2,520 per tin.

Mustard Oil Dadri - Rs 12,500 per quintal.

Sesame Oil Mill Delivery - Rs 14,550 - 17,550.

Soybean Oil Mill Delivery Delhi - Rs 13,800.

Soybean Mill Delivery Indore - Rs 13,600.

Soybean Oil Digam, Kandla - Rs. 12,400. 

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