All-round fall in oilseeds due to breakdown of palmolein cpo and mustard oil last week

All-round fall in oilseeds due to breakdown of palmolein cpo and mustard oil last week
All-round fall in oilseeds due to breakdown of palmolein cpo and mustard oil last week
New Delhi, Sep 4 (PTI) The prices of crude palm oil (CPO), palmolein and mustard oil fell in the overseas markets last week, leading to an all-round fall in the prices of almost all edible oilseeds in the oil-oilseeds markets across the country.

Traders said that the edible oil industry, importers and farmers are very upset due to the fall in the prices of edible oils abroad. He said that crude palm oil (CPO), which was imported by the importers at a price of about $2,060 per tonne in the last three months, has now come down to $990 per tonne at the Kandla port. In such a situation, there is heavy pressure on the rest of the oilseeds prices and a deep crisis has arisen in front of the importers and the oil industry.

According to sources, traders with little capital have now made up their mind to leave the oil business. Only businessmen who keep their letter of credit in banks are stuck in edible oil business. He said that despite this decline, consumers are not getting proper benefit of the fall. Retailers are charging higher prices from customers due to the maximum retail price (MRP) being kept at Rs 40-50 more than the wholesale price in retail business.

Sources said that when the CPO at Kandla port is sold at Rs 88 per kg, then where will the mustard coming next March be able to be consumed in front of it. The cost price of mustard oil is expected to be Rs 125-130 per liter in view of the possibility of the government increasing the Minimum Support Price (MSP) of the new mustard crop for the upcoming Rabi crop. Indigenous oilseeds will not be able to survive in the face of cheap imports. The government will be able to buy only 20-30 lakh tonnes of mustard, so questions will arise on the consumption of the rest of the mustard.

Sources said that new cottonseed crop has started arriving in the mandis of Haryana and Punjab. Palmolein oil is so cheap that it has become impossible for other oilseeds to survive beyond it. Sunflower oil will also not be able to survive this downward pressure. In the next 15-20 days, a new crop of soybean is also going to arrive in the mandis, due to which there will be further decline in soybean.

Last year, farmers got a price of Rs 10,000 per tonne for soybean. He did not sell it at a lower price this time due to the fall in the price of soybean to Rs 7,000 per tonne, but now the price of soybean has come down to Rs 5,200-5,300 per tonne. Because of this, a lot of stock is left with the farmers. The breakdown of soybean is also almost certain.

According to edible oil traders, the second biggest problem is regarding the maximum retail price (MRP). After selling at low margin in bulk, retail traders sell this oil at a higher price of about Rs 40-50 under the guise of MRP. Whereas this MRP should not exceed Rs 10-15 over the actual cost. Sources said that in meetings with the government, retailers agree to reduce MRP above Rs 50, usually by Rs 10-15, but this deprives consumers of taking advantage of the fall in global edible oil prices. .

Sources said that the price of mustard seeds fell by Rs 250 last week to close at Rs 6,900-6,950 per quintal as compared to last weekend. Mustard Dadri oil declined by Rs 800 to Rs 13,550 per quintal during the weekend under review. On the other hand, mustard, pakki ghani and kachi ghani oil prices also fell by Rs 130 each to Rs 2,150-2,240 and Rs 2,180-2,295 per tin (15 kg) respectively.

Sources said wholesale prices of soyabean grains and loose fell by Rs 225 and Rs 125, respectively, at Rs 5,275-5,375 and Rs 5,225-5,325 per quintal, respectively, for the week under review amid a general trend of declining trend.

Soybean oil prices also closed with a fall in the week under review. The wholesale price of Soyabean Delhi declined by Rs 325 to Rs 12,750, Soyabean Indore declined by Rs 320 to Rs 12,580 and Soyabean Digum by Rs 210 to Rs 11,240 per quintal.

Groundnut oil and oilseeds prices also declined in the week under review due to the breakdown of palmolein prices. Groundnut oilseeds fell by Rs 60 to close at Rs 7,070-7,235 per quintal during the weekend under review. Groundnut oil Gujarat closed Rs 500 lower at Rs 16,250 per quintal while groundnut solvent refined fell by Rs 70 to Rs 2,715-2,905 per tin in the reporting week as against the previous weekend’s closing price.

Crude palm oil (CPO) fell by Rs 1,300 to Rs 8,800 a quintal in the week under review. While the price of Palmolein Delhi fell by Rs 1,200 to Rs 10,800 and Palmolein Kandla declined by Rs 1,270 to Rs 9,680 per quintal.

Cottonseed oil also fell by Rs 1,500 to close at Rs 12,300 per quintal in the week under review.

The article is in Hindi

Tags: Allround fall oilseeds due breakdown palmolein cpo mustard oil week

PREV After his death, your Ratan Rajput himself went into depression for 2 years. Ratan Rajput | Shares father Death Experience and her depression
NEXT Drishyam Model Murder In Changanassery