Good News! Edible oil became cheaper, prices of all fell including mustard oil, check list

There is news of relief for the common man. Edible oil has become cheaper now than before. The central government said that the prices of edible oil have come down in the last one month.

New Delhi: There is news of relief for the common man. After the fall in foreign markets, oil prices have also come down, that is, edible oil has become cheaper than before. There has been a fall in soybean, groundnut, cottonseed and palmolein Kandla oil prices in Delhi’s oilseeds market last week, while the prices of mustard oil-oilseeds and soybean grain and loose due to increase in local demand and export demand of DOC. Show closed.

Informed sources in the market said that the consumption of mustard has increased during March, April and May due to the fact that it is cheaper than imported oils. Due to making refined from mustard, there was also a shortage of mustard. Food regulator FSSAI’s ban on adulteration of any other mustard oil from June 8 has also increased the demand for pure mustard oil among consumers.

Improvement in prices The
arrivals in the market are less than the demand for mustard and farmers are bringing goods with restraint. Under these circumstances, there was an improvement in mustard oil-oilseeds prices in the weekend under review as compared to the previous weekend. Sources said that the upcoming mustard crop is expected to be vigorous with the prices that the mustard farmers have got in the current season and experts are of the view that farmers may sow more mustard instead of wheat.

Sources said that the government should make arrangements for mustard seeds from now on as the crop is available in the market now and lest the shortage of seeds becomes a hindrance in the way of a possible bumper yield of mustard on the occasion of sowing. The present level of consumption of mustard is only around 70-75 percent but in the next 10-15 days the level of consumption will increase to 100 percent and in view of the situation of shortage of arrivals in the mandis, arranging mustard seeds from now will prove to be a better step. .

Companies need two lakh sacks of mustard daily
He said that due to shortage of mustard oil mills in Rajasthan and Uttar Pradesh have started shutting down. Small crushers crushing 5-20 bags of local have a daily demand of one to 1.25 lakh bags of mustard, while big oil mills require 2.5 lakh bags of mustard daily. Pakki Ghani mustard oil crushing companies need two lakh sacks of mustard daily. In comparison to this huge demand, only about two to two and a half lakh sacks of mustard have arrived in the mandis.

Sources said that the situation that seems to be building now, the demand for mustard will increase further as pure mustard oil is being available to the consumers. He said that due to this, going forward, the effect of fluctuations in foreign oils will not affect mustard, whose demand is increasing continuously. Sources said that due to heavy local demand along with exports of oil-free soybean kernels, soybean grain and loose prices closed with gains last week. At the same time, soybean oil prices closed with a fall in comparison to the previous weekend in the reporting weekend amid decline and lack of demand abroad.

Which oil became cheaper by how much –

  • Last week, the price of mustard seed rose to Rs 7,275-7,325 per quintal showing a profit of Rs 150 from Rs 7,125-7,175 per quintal last weekend.
  • The price of mustard Dadri oil also increased by Rs 150 to Rs 14,250 per quintal.
  • Sarson Pakki Ghani and Kachchi Ghani tins also closed at Rs 2,300-2,350 and Rs 2,400-2,500 per tin, respectively, showing a gain of Rs 25 each during the weekend under review.
  • Soybean grain and loose soyabean prices closed at Rs.7,450-7,500 and Rs.7,350-7,400 per quintal, respectively, showing gains of Rs.300 and Rs.250, respectively, on strong local and export demand for De-oiled Oil (DOC) of Soyabean. .

Apart from this, the prices of Soyabean Delhi (Refined), Soyabean Indore and Soyabean Degum fell by Rs.250, Rs.250 and Rs.50, respectively, by Rs.250, Rs.250 and Rs.50, respectively, in the reporting weekend due to the fall in oil-oilseeds due to lack of demand abroad. , closed at Rs 13,300 and Rs 12,200 per quintal.

In Gujarat, groundnut grain fell by Rs 210 to Rs 5,495-5,640, groundnut Gujarat fell by Rs 700 to Rs 13,500 a quintal and groundnut solvent refined by Rs 50 to 2,075-2,205 during the weekend under review due to the arrival of groundnut summer crop in the mandis. Closed at Rs. Crude Palm Oil (CPO) and Palmolein Delhi’s prices remained unchanged at the previous level, while Palmolein Kandla oil closed at Rs 11,000 per quintal in the reporting weekend with a loss of Rs 150.

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Article first Appeared on Informalnewz

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