Image Credit source: Om Prakash, NewsNCR Digital
Commodity researcher Tarun Satsangi says that the production of mustard oil is estimated to be between 4.4 to 4.8 million tonnes. This calculation is based on the production of 11.5 to 12 million tonnes of mustard with 40 per cent oil content.
After Indonesia lifted the ban on palm oil export, now its supply has started increasing in the country. Along with this, the import of sunflower oil from Russia has also started. Meanwhile, another relief news has come for the consumers on the edible oil front. Due to which the prices of edible oil are expected to fall further in the coming days. Research by Origo E-Mandi states that this year mustard production could be a record 11.5 to 12 million tonnes. While the production of mustard oil is estimated to be between 4.4 to 4.8 million tonnes. This is more than 28% from last year. With this the price of mustard oil (Mustard Oil Price) can be quite low. In the year 2021-22, this will be possible due to more cultivation of mustard.
Market experts say that even in this year i.e. 2022-23, if the price of mustard is found more than the minimum support price, then the production will increase further. In the year 2021, the price of mustard oil had reached a record Rs 250 per liter. The price of refined oil was also skyrocketing. But, now the situation has changed. There has been a record mustard production in the country. In the year 2021, only 102 lakh tonnes was produced, while this year i.e. in 2022, the government had estimated 115 lakh tonnes of mustard production. In such a situation, some softness regarding mustard oil was being guessed from the beginning.
How much production did the private market estimate
The Central Organization for Oil Industry and Trade (COOIT) and Mustard Oil Producers Association (MOPA) have estimated mustard production in the country at 11 million tonnes for the crop year 2022-23. Whereas Origo Mandi has said that the crop size can be 11.5 to 12 million tonnes. Similarly, in the crop year 2021-22, the production of mustard oil in India is estimated to increase by 28.5 percent i.e. 8.2 lakh tonnes to 3.67 million tonnes. Whereas in 2020-21, 2.85 million tonnes were produced.
How much will mustard oil be produced?
Researcher Tarun Satsangi of Origo E-Mandi says that according to our research, production is expected to exceed these figures. According to our estimates, the production of mustard oil should be between 4.4 to 4.8 million tonnes. The above calculation is based on the production of 11.5 to 12 million tonnes of mustard with 40 per cent oil content. However, industry veterans believe that this season the oil content in mustard is around 40.5 per cent and if it remains the same at 11 million tonnes, then mustard oil production should be 4.455 million tonnes instead of 3.67 million tonnes.
India’s mustard meal production is estimated to increase by 28.3 per cent to 5.75 million tonnes in the crop year 2021-22, as against 4.48 million tonnes in 2020-21. There are many local and many international reasons, due to which the prices of edible oils will remain soft. At present, the wholesale price of 10 liters of mustard oil is Rs 1426.
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