29/08/2022 (News Day Express), New Delhi - Barring groundnut, CPO, palmolein, cottonseed oil and mustard oil-oilseeds prices fell on Monday in the Delhi oil-oilseeds market amid a declining trend in overseas markets. On the other hand, the prices of oilseeds closed strongly due to farmers not selling soybean at a lower price. On the other hand, the prices of groundnut oil and oilseeds remained at the previous level.

Traders said the Malaysia Exchange lost 0.2 per cent while the Chicago Exchange lost 1.5 per cent. Bearish trend overseas and weak demand led to the fall in CPO and palmolein oil prices.

He said that the prices of soybean degum have improved due to costlier imports. At the same time, due to the stock of soybeans with the farmers and selling them at good prices, the prices of soybean oil and oilseeds have closed with improvement.

Sources said that the global market is declining, so the government needs to focus on the retail price of edible oil and oilseeds also.

Consumers and farmers are not getting any benefit as there is no fluctuation in the retail price despite the breakdown of the wholesale market.

According to sources, the government should also think of increasing oilseeds production as foreign exchange will have to be spent for importing foreign oil. Apart from this, the government should take some measures to rescue the farmers, oil industries and consumers from this recession.

Sources said cheaper imports of CPO and palmolein and fall in Malaysia exchange have led to the fall in their prices. On the other hand, mustard oil also registered a fall due to fall in the prices of palmolein and CPO.

Sources said that trading in groundnut is nearing its end and after the arrival of new crop of groundnut next month, the prices of its oilseeds and oilseeds will break down. At present, due to lack of stock and demand, the price of groundnut oil and oilseeds closed at the previous level. Kharif (groundnut, soybean, cottonseed) crop will come next month.

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

Mustard oilseeds – Rs 7,050-7,100 (42 per cent condition rate) per quintal.

Groundnut – Rs 7170-7295 per quintal.

Groundnut Oil Mill Delivery (Gujarat) – Rs 16,750 per quintal.

Groundnut Solvent Refined Oil 2,785 – Rs 2,975 per tin.

Mustard oil Dadri – Rs 14,100 per quintal.

Sarson Pakki Ghani – Rs 2,230-2,320 per tin.

Sarson Kachchi Ghani – Rs 2,260-2,375 per tin.

Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal.

Soyabean Oil Mill Delivery Delhi- Rs 13,100 per quintal.

Soybean Mill Delivery Indore – Rs 12,900 per quintal.

Soyabean Oil Degum, Kandla – Rs 11,550 per quintal.

CPO Ex-Kandla – Rs 10,050 per quintal.

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

Palmolein RBD, Delhi – Rs 11,900 per quintal.

Palmolein Ex-Kandla – Rs 10,800 (without GST) per quintal.

Soyabean grain – Rs 5,550-5,650 per quintal.

Soyabean loose Rs 5,450- Rs 5,550 per quintal.

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

Source: navbharattimes.indiatimes.com

https://www.newsdayexpress.com/business/improvement-in-soybean-oil-oilseeds-decline-in-palmolein/