soybean oilseeds palmolein decline in mustard improvement
According to market sources, there was an improvement in the prices of mustard oil-oilseeds due to non-selling by the farmers in the lower prices, while the prices of rest of the oil-oilseeds remained at the previous level.
Traders said the Malaysia exchange saw a one per cent fall, while the Chicago exchange also fell by a huge margin of 3.50 per cent, or around $45, last night. At the moment it is 0.5 percent faster.
According to Traders, CPO and Palmolein prices closed showing a decline due to the breakdown of Malaysian market.
Despite falling prices in overseas markets, low supply in the local market did not affect the prices of soybean and sunflower much. On the other hand, consumers in the retail market have to pay higher price for refined soybean and Rs 40-50 more for sunflower oil in the retail market despite duty-free imports.
Sources said the government should do away with the import limit of soybean degum and sunflower oil completely or impose an import duty of five per cent as before, to maintain the supply chain of edible oils. The government also needs to focus on increasing oilseeds production.
The prices of oil and oilseeds remained as follows on Thursday:
Mustard oilseeds – Rs 6,780-6,830 (42 per cent condition rate) per quintal.
Groundnut – Rs 7,170-7235 per quintal.
Groundnut Oil Mill Delivery (Gujarat) – Rs 16,750 per quintal.
Groundnut Solvent Refined Oil Rs 2,745 – Rs 2,935 per tin.
Mustard oil Dadri – Rs 13,700 per quintal.
Sarson Pakki Ghani – Rs 2,130-2,260 per tin.
Sarson Kachchi Ghani – Rs 2,200-2,315 per tin.
Sesame Oil Mill Delivery – Rs 18,000-19,500 per quintal.
Soyabean Oil Mill Delivery Delhi – Rs 12,450 per quintal.
Soybean Mill Delivery Indore – Rs 12,250 per quintal.
Soyabean Oil Degum, Kandla – Rs 10,900 per quintal.
CPO Ex-Kandla – Rs 8,450 per quintal.
Cottonseed Mill Delivery (Haryana) – Rs 12,200 per quintal.
Palmolein RBD, Delhi – Rs 10,200 per quintal.
Palmolein ex-Kandla- Rs 9,200 (without GST) per quintal.
Soyabean grain – Rs 5,200-5,300 per quintal.
Soyabean loose Rs 5,175- Rs 5,275 per quintal.
Maize Khal (Sariska) Rs 4,010 per quintal.