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Sunday, January 23, 2022

Edible Oil Price: Soon there will be relief from expensive oil, know the reduced prices

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Edible Oil rates: Food Secretary Sudhanshu Pandey told the media that a downward trend in the price of cooking oil is being seen.

Falling trend in oil prices.

Due to false rumors of reduction in import duty of edible oils in the country, the trend of falling in foreign markets was maintained and soybean and CPO and palmolein oil prices fell on Friday in Delhi Oil Oilseeds Market. Happened.

Traders say that due to the misinformation of the rumors, the Malaysia Exchange had fallen by half a per cent on Thursday night and the Chicago Exchange by four per cent, which had a direct impact on the domestic business as well. It is noteworthy that to meet the shortage of edible oil in the country, mainly CPO and soybean degum are imported in large quantities. For this reason, due to the fall in foreign countries, soybean and CPO oil prices fell in the domestic market. Here, Food Secretary Sudhanshu Pandey said on Thursday that the price of cooking oil is showing a downward trend. There is a trend of declining price in the futures market till December. Together, he also said that the government is keeping an eye on the prices of oil and pulses.

Rumors will destroy farmers’ spirits

Sources said that such rumors at the time of soyabean sowing and harvesting have dampened the spirits of oilseeds business and farmers in particular. Sources believe that these rumor mongers are those who have processing plants in Malaysia and Argentina and do not want the country to become self-reliant in the production of oilseeds.

It is necessary to give confidence to the farmers

He said that soyabean is being sown now, mustard, groundnut will also be there. In such a situation, it will be necessary to rein in those spreading rumours. Sources said that to make the country self-reliant in oilseeds, farmers have to be ensured to pay better prices, which will encourage them to increase production.

The wholesale price in the market remained as follows- (Rs. per quintal)

Mustard oilseeds – 7,350 – 7,400 (42 per cent condition price) Rs.

Groundnut seeds – 5,920 – 5,965 rupees.

Groundnut Oil Mill Delivery (Gujarat) – Rs 14,500.

Groundnut Solvent Refined Oil Rs 2,320 – Rs 2,350 per tin.

Mustard oil Dadri – Rs 14,465 per quintal.

Sarson Pakki Ghani – Rs 2,330 -2,380 per tin.

Mustard Kachchi Ghani – 2,430 – Rs 2,530 per tin.

Sesame Oil Mill Delivery – 15,000 – 17,500 rupees.

Soyabean Oil Mill Delivery Delhi – Rs 15,200.

Soybean Mill Delivery Indore – Rs 15,000.

Soyabean Oil Degum, Kandla – Rs 13,750.

CPO Ex-Kandla – Rs 11,550.

Cottonseed Mill Delivery (Haryana) – Rs 13,500.

Palmolein RBD, Delhi – Rs 13,480.

Palmolein Ex- Kandla – 12,380 (without GST)

Soyabean grain 7,600 – 7,650, soybean loose Rs 7,550 – 7,600

Maize Khal Rs 3,800

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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