mustard oil-oilseeds, soybean digum decline improvement in palmolein oil

New Delhi, Sep 14 (PTI) Mustard oil – oilseeds, soybean degum oil prices fell on Wednesday in the Delhi oil-oilseeds market due to a declining trend in foreign markets, while palmolein oil, soybean oilseeds improved due to lower demand. Registered. Groundnut oil – Oilseeds, CPO, Soyabean Delhi and Soyabean Indore and Cottonseed oil prices closed at the previous level.

Traders said the supply chain of these oils is at risk of breakdown after the government gave exemption to import duty-free of 20 lakh tonnes of soybean degum and sunflower oil every year for two years by the government about two-and-a-half months ago. The fact is that the monthly demand for import of these edible oils is about two to two and a half lakh tonnes and according to the exemption of duty free import of 20 lakh tonnes in a year by the government, only about 1.65 lakh tonnes of edible oil can be imported in a month. Will be able If the import is 1.65 lakh tonnes per month against the demand of two-and-a-half lakh tonnes in the country within a month, then there will be a huge demand-supply gap. For the rest of the import duty will have to be paid at the rate of Rs 7 per kg. In such a situation, no importer is buying new deals and imports have come down. Due to this, the country is losing revenue, on the other hand, due to the maximum retail price (MRP) in the retail market, the consumers are facing huge losses.

In the retail market, consumers are paying a higher price of Rs 25-30 a liter for soybean refined and Rs 50-60 a liter for sunflower oil, despite duty-free imports. To maintain the supply chain of edible oils, the government should completely abolish the import limit of soybean degum and sunflower oil or impose an import duty of five percent as before.

Sources said that due to demand-supply gap, it will become difficult to consume imported oil paying duty of Rs 7 per liter once the market price is fixed on the basis of duty free edible oil. This will also affect the functioning of oil processing mills and local farmers. In the face of cheap imported oils, farmers will face the risk of getting lower prices for their produce.

Sources said soybean oil at Kandla port costs Rs 102-103 per liter while sunflower oil costs Rs 114-115 per litre. But consumers have to pay Rs 140-150 a liter in the retail market and about Rs 177-180 a liter for sunflower oil cake respectively.

The prices of oil and oilseeds remained as follows on Wednesday:

Mustard oilseeds – Rs 6,730-6,780 (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 13,550 per quintal.

Sarson Pakki Ghani – Rs 2,150-2,240 per tin.

Sarson Kachchi Ghani – Rs 2,180-2,295 per tin.

Sesame Oil Mill Delivery – Rs 18,000-19,500 per quintal.

Soyabean Oil Mill Delivery Delhi – Rs 12,500 per quintal.

Soybean Mill Delivery Indore – Rs 12,350 per quintal.

Soyabean Oil Degum, Kandla – Rs 10,800 per quintal.

CPO Ex-Kandla – Rs 8,530 per quintal.

Cottonseed Mill Delivery (Haryana) – Rs 12,500 per quintal.

Palmolein RBD, Delhi – Rs 10,400 per quintal.

Palmolein ex-Kandla – Rs 9,400 (without GST) per quintal.

Soyabean grain – Rs 5,400-5,500 per quintal.

Soyabean loose Rs 5,350- Rs 5,450 per quintal. 50 bucks fast

Maize Khal (Sariska) Rs 4,010 per quintal.