At present, the country’s oilseed farmers are facing a problem of light oil, due to the very cheap price of which it is becoming difficult to consume crops like mustard, cottonseed.
Amid mixed trend in foreign markets Delhi oil-oilseed market Peanuts on Thursday and soybean oil-oilseed And cottonseed oil prices registered a loss. Whereas, the prices of mustard oil-oilseeds, crude palm oil (CPO) and palmolein oil remained unchanged. There was a decline of 0.34 percent in Malaysia Exchange, while there is a slight improvement in Chicago Exchange.
Market sources said that yesterday the Solvent Extractors Association (SEA) had said that the import of CPO and Palmolein has increased and this will affect the consumption of indigenous oilseeds. SEA also sought opening of futures trading of oilseeds, demanding an increase in the duty differential between CPO and palmolein.
Imports have decreased by almost 30 percent
Sources said that the prices of soft oils (sunflower and soybean) were about Rs 36 a kg higher than heavy oils like CPO and palmolein and at present the prices of soft oils are only Rs 7-8 a kg higher than heavy oils. That is, after the price difference has come down, soft oils are being imported duty free in huge quantities. On the other hand, the import of crude palm oil (CPO) has decreased by about 30 percent in the month of February.
it needs to be controlled urgently
At present, the country’s oilseed farmers are facing a problem of light oil, due to the very cheap price of which it is becoming difficult to consume crops like mustard, cottonseed. CPO and Palmolein are not the real problem right now, but the cheapness of soft oils prevalent in the country like Sunflower, Soybean is the real problem and it needs to be controlled immediately.
Sources said that the demand to open futures trading of oilseeds of SEA is also unreasonable. Sources said that about two years ago, the price of soyabean seed in this futures trade was increased to about Rs 10-11 thousand per quintal and the farmers had to buy it at an expensive price and when their crop arrived, the price in the futures trade was Rs 4,200- Rs 4,400 a quintal was running. At that time, the futures trading of oilseeds was banned after continuous complaints from the oil organization SOPA and poultry people.
The country’s oil-oilseed industry has not been able to recover
Oil organizations should speak about the effect of current soft oil on local oilseed farmers, local oil mills, but their interest in opening futures trading is beyond comprehension. Describing the futures trading as a termite of the oil-oilseed industry, the sources said that due to this, the country’s oil-oilseed industry has not been able to recover for the last 20 years.
The price of cottonseed oil cake has increased by 1.5 percent.
Sources said that duty-free imported sunflower oil is priced at Rs 86-87 a liter at the port and due to this domestic cottonseed is not being consumed in the market. We get most of the husk required for animal feed from cottonseed only. Diiled cake (DOC) can also be imported for chicken feed, but even if you think of importing skins, you can get very negligible quantity. In such a situation, the question arises that from where will we get the rest of the skin? Perhaps for this reason, the price of cottonseed oil cake has increased by 1.5 percent in futures trading for the third consecutive day today.
The prices of oil and oilseeds remained as follows on Thursday
- Mustard oilseeds – Rs.5,225-5,275 (42 percent condition rate) per quintal.
- Groundnut – Rs 6,755-6,815 per quintal.
- Groundnut oil mill delivery (Gujarat) – Rs 16,570 per quintal.
- Groundnut refined oil Rs 2,535-2,800 per tin.
- Mustard oil Dadri – Rs 10,900 per quintal.
- Mustard Pakki Ghani – Rs 1,740-1,770 per tin.
- Mustard Kachhi Ghani – Rs 1,700-1,830 per tin.
- Sesame oil mill delivery – Rs 18,900-21,000 per quintal.
- Soybean oil mill delivery Delhi – Rs 11,180 per quintal.
- Soybean Mill Delivery Indore – Rs 11,080 per quintal.
- Soybean oil Degem, Kandla – Rs 9,540 per quintal.
- CPO X-Kandla – Rs 8,650 per quintal.
- Cottonseed Mill Delivery (Haryana) – Rs 9,400 per quintal.
- Palmolin RBD, Delhi – Rs 10,250 per quintal.
- Palmolin X- Kandla – Rs 9,240 (without GST) per quintal.
- Soybean grain – Rs 5,150-5,300 per quintal.
- Soybean loose – Rs 4,910-4,960 per quintal.
- Maize Khal (Sariska) – Rs 4,010 per quintal.