The prices of import duty free edible oils are so cheap that cottonseed is not being consumed in the market due to which cottonseed crushing mills and ginning mills (which extract cottonseed seeds) are working less.
Despite the declining trend in foreign markets, the demand for cheap imported oils improved and last night Chicago Exchange Due to the strong 2.5 percent of the oil-oilseed market in Delhi on Friday, almost all oil-oilseeds The sentiments became stronger. Mustard, soyabean, groundnut oil-oilseeds and cottonseed, crude palm oil (CPO) and palmolein oil closed showing improvement due to improvement in demand and reduction in cheap selling by farmers who have got good prices in last two years.
The Malaysia Exchange was down 0.3 percent while the Chicago Exchange closed 2.5 percent stronger last night and is currently down. Market sources said that in the last two years, farmers have got good prices for oilseed crops and they are shying away from selling their produce cheaply. However, the price of mustard remains below the minimum support price (MSP). Oil mills are at loss in crushing of country oil because the cost of country oil after crushing is high.
Now 50 percent crushing is happening
That’s why crushing is happening only about 50 percent. Due to which the price of Mustard seed in the open market, which was about Rs 2,200-2,250 a quintal last year, has increased to Rs 2,450-2,500 a quintal this time. Same is the condition of Cottonseed also. Last year, the stock of cottonseed meal in NCDEX was 21.5 lakh bags, which has come down to about two lakh bags this year. The wholesale price of cottonseed oil was Rs 160 a kg 8-9 months ago, it has come down to Rs 95 a kg now.
2.1 percent increase was seen in the price of cottonseed meal
The prices of cottonseed cake are rising due to cheaper cottonseed oil and due to this, for the fourth consecutive day in futures trading, NCDEX saw an increase of 2.1 percent in the price of April contract cottonseed cake. If this condition of Khal continues, there will be problem of animal feed. The complete solution to the problem is much more than the purchase of mustard from the cooperative organization Nafed, emphasis should be laid on creating a market for indigenous oil and oilseeds. The prices of import duty free edible oils are so cheap that cottonseed is not being consumed in the market due to which cottonseed crushing mills and ginning mills (which extract cottonseed seeds) are working less.
Sunflower oil costs around Rs 135 per liter
Sources said that similarly, the price of imported light edible oil like sunflower, which was about Rs 200 a liter eight months back, has now come down to Rs 87-88 a litre. The price of imported soybean oil is also around Rs 87-88 a litre. In front of the price of these cheap imported oils, the price of indigenous mustard oil is around Rs.115 per liter and the price of indigenous sunflower oil is around Rs.135 per liter.
In front of imported sunflower oil at Rs 87-88 a litre, how can mustard (Rs 115 a litre) and native sunflower (Rs 135 a litre) be consumed in the market. The farmers of the country have increased the production of oilseeds on the call of the government, but now it is most important for them to create a market for indigenous oil and oilseeds. For this, first of all, to control the price of cheap imported oils, especially soft oils like sunflower and soyabean, the import duty on them will have to be maximized and only then the market situation will be such that indigenous oil-oilseeds will be able to be consumed.
The prices of oil and oilseeds remained as follows on Friday
- Mustard oilseeds – Rs.5,275-5,325 (42 percent condition rate) per quintal.
- Groundnut – Rs 6,780-6,840 per quintal.
- Groundnut oil mill delivery (Gujarat) – Rs 16,600 per quintal.
- Groundnut refined oil Rs 2,540-2,805 per tin.
- Mustard oil Dadri – Rs 11,050 per quintal.
- Mustard Pakki Ghani – Rs 1,715-1,785 per tin.
- Mustard raw Ghani – Rs 1,715-1,845 per tin.
- Sesame oil mill delivery – Rs 18,900-21,000 per quintal.
- Soybean oil mill delivery Delhi – Rs 11,300 per quintal.
- Soybean Mill Delivery Indore – Rs 11,200 per quintal.
- Soybean oil Degum, Kandla – Rs 9,700 per quintal.
- CPO X-Kandla – Rs 8,850 per quintal.
- Cottonseed Mill Delivery (Haryana) – Rs 9,500 per quintal.
- Palmolin RBD, Delhi – Rs 10,400 per quintal.
- Palmolin X- Kandla – Rs 9,45 0 (without GST) per quintal.
- Soybean seeds – Rs 5,200-5,350 per quintal.
- Soybean loose – Rs 4,960-5,010 per quintal.
- Maize Khal (Sariska) – Rs 4,010 per quintal.