Edible Oil Price: Edible oil prices continue to fall. Even today, there has been a slight fall in prices in the oil-oilseeds market of Delhi. Let us tell you that due to the ‘rumour’ of reducing the import duty by the government, the prices have also seen a decline. Talking about the global market, the Malaysia Exchange has seen a rise of 3.25 percent. At the same time, the Chicago Exchange has gained 1 percent.
Know why there was a fall in prices?
Sources said that due to the rumor of reduction in duty, the prices of edible oil have come down. “Malaysia has increased oil prices by $80 amidst rumors of a reduction in import duty by $90 per tonne by the government, which is likely to bring down prices very marginally and on the other hand,” the sources said. This will only result in loss of revenue to the country.
Government should focus on increasing production
Let us tell you that instead of increasing the import duty, the government will have to emphasize on increasing the production of oilseeds because only this can help in eliminating our dependence on other countries.
Mustard prices improve
Market experts believe that the prices of mustard seeds improved due to reduced arrival of mustard in the mandis, while the prices of other mustard oils remained at the previous level. Amid demand, soybean oilseeds prices remained at the previous level, but soybean oil prices declined. CPO and palmolein oil prices also closed with a fall. Cottonseed oil prices declined while groundnut oil and oilseeds prices remained at the previous level.
Let’s check the latest rates of edible oil-
- Mustard oilseeds – Rs 7,590-7,640 (42 percent condition rate) per quintal
- Groundnut – Rs 6,735 – Rs 6,870 per quintal
- Groundnut Oil Mill Delivery (Gujarat) – Rs 15,750 per quintal
- Groundnut Solvent Refined Oil Rs 2,640 – Rs 2,830 per tin
- Mustard oil Dadri – Rs 15,200 per quintal
- Sarson Pakki Ghani – Rs 2,385-2,465 per tin
- Mustard Kachhi Ghani – Rs 2,425-2,535 per tin
- Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal
- Soyabean Oil Mill Delivery Delhi – Rs 16,700 per quintal
- Soybean Mill Delivery Indore – Rs 16,000 per quintal
- Soyabean Oil Degum, Kandla – Rs 15,100 per quintal
- CPO Ex-Kandla – Rs 14,750 per quintal
- Cottonseed Mill Delivery (Haryana) – Rs 15,250 per quintal
- Palmolein RBD, Delhi – Rs 16,300 per quintal
- Palmolein Ex-Kandla – Rs 15,100 (without GST) per quintal
- Soyabean grain – Rs 7,050-7,150 per quintal
- Soyabean loose Rs 6,750- Rs 6,850 per quintal
- Maize Khal (Sariska) Rs 4,000 per quintal