Market experts said the improvement in mustard oil oilseeds prices was on account of local festival demand. In the coming time, the price of mustard oil and oilseeds can be seen further.
On Monday, soybean degum oil prices improved in the oil-oilseeds market due to increased local demand. On the other hand, the prices of CPO and Palmolein Kandla remained in a strong trend due to increase in festive demand, due to strengthening of mustard and Malaysia Exchange. On the other hand, due to the fall in the price of cottonseed, there was a decrease in the price of groundnut oil oilseeds.
Late Friday night, the government reduced import duty on edible oils like crude palm oil (CPO), palmolein, sunflower, soybean degum and soybean refined by five and a half percent to check rising prices of edible oils during the festive season. The impact of this decision can be seen on the upcoming consignments of oils.
Mustard oil-oilseeds prices may increase further in the coming time
He said that there was improvement in mustard oil oilseeds prices due to local festival demand. In the coming time, the price of mustard oil and oilseeds can be seen further. Whereas crude palm oil (CPO) and Palmolein Kandla saw an improvement in the price of crude palm oil (CPO) by one percent on the Malaysia Exchange. The Chicago Exchange remained normal.
A few weeks ago, the demand for groundnut had increased after the price of cottonseed was almost equal to that of groundnut, but due to the possibility of new crop coming into the market of cottonseed, its price decreased by Rs 12 a kg from groundnut. This led to a decline in groundnut oil oilseeds.
The consignment of import of soybean for the month of September will arrive in October and its price in the market is Rs 127.50 per kg, while in the spot market the price of soybean is Rs 131 per kg at present. After the arrival of the import consignment, their prices are expected to soften a bit. At present, there is a good demand for soybean degum oil due to being the cheapest in light oil (soybean degum is currently cheaper than cottonseed).
Prices of oilseeds in the market
Mustard oilseeds – 8,650 – 8,700 (42 percent condition price) Rs.
Mustard oil Dadri – Rs 17,700 per quintal.
Sarson Pakki Ghani – Rs 2,665 -2,715 per tin.
Mustard Kachhi Ghani – Rs 2,750 – Rs 2,860 per tin.
Groundnut – 6,685 – Rs 6,830.
Groundnut Oil Mill Delivery (Gujarat) – Rs 15,350.
Groundnut Solvent Refined Oil Rs 2,345 – Rs 2,475 per tin.
Cottonseed Mill Delivery (Haryana) – Rs 13,500.
Palmolein RBD, Delhi – Rs 13,000.
Palmolein Ex- Kandla – 11,950 (without GST).
Soyabean grain 8,600 – 8,900, Soyabean loose 8,300 – 8,600 Rs.
Makkah Khal (Sariska) – Rs 3,800.
Sesame Oil Mill Delivery – 15,500 – 18,000 rupees.
Soyabean Oil Mill Delivery Delhi – Rs 14,500.
Soybean Mill Delivery Indore – Rs 14,300.
Soyabean Oil Degum, Kandla – Rs 13,100.
CPO Ex-Kandla – Rs 11,480.
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