Amid the general trade in overseas markets, the price of mustard oil in the Delhi oilseeds market fell on Saturday, with cottonseed oil improving by local demand in Gujarat. On the other hand, due to weak demand among the general business, prices of various oilseeds, including CPO and soybean oil-oilseeds, closed at previous levels.
Traders have said trading is common in overseas markets but demand is weak. He said the decline in mustard oil is part of a general upsurge and demand for mustard is everywhere in the market. Mustard and cottonseed cakes are also in high demand for livestock and poultry. The demand for green vegetables will increase as the coming festivals and winters begin, he said. Keeping this in mind, the government should look into the matter right away.
Get 2700 Cashback on LPG Gas Cylinder Booking, Learn How You Can Benefit
The daily arrival of mustard in the country is around one lakh 60 thousand to two lakh bags and the daily demand for consumption is around 3.5 lakh bags, he said. Apart from this, there is no inventory except farmers, cooperatives and traders. In such a situation, Huffed and Nafed Co-operatives need to stockpile the mustard by purchasing mustard at the market rate right away, in order to meet the demand for the coming winter and festive season. Last year, these co-operatives had about 20-22 lakh tonnes of mustard stock, including the rest of their stock, and sold 2-2.5 lakh bags of mustard daily. But this time the demand for mustard winters and festivals cannot be met by imports because it is not produced anywhere else and there is no alternative.
Traders said the price of cottonseed oil had improved as local demand and cottonseeds from Gujarat were ‘off season’. The next crop of cotton comes in October. On the other hand, the prices of the remaining oilseeds remain unchanged. He said 80-85 percent of the powdered mills were closed due to a shortage of soybeans. He said that the government should make mustard stocking right away, keeping track of future demand.
Fixed Deposit Rates: Planning to invest in FD? Check the Interest Rate of Top 10 Banks
The wholesale price in the market is as follows – (Rs. Per quintal)
Mustard Oilseeds – 7,850 – 7,900 (42 per cent conditional price) Rs.
Peanuts – Rs 6,295 – Rs 6,440.
Groundnut Oil Mill Distribution (Gujarat) – Rs 14,250
Peanut Solvent Refined Oil Rs 2,195 – Rs 2,325 per tin.
Mustard Oil Dadri – Rs 15,550 per quintal
2,525 -2,575 for each tin of Sarson Pakki Ghani.
Sarson Kachi Ghani – Rs 2,610 – Rs 2,720 per tin.
Distribution of Sesame Oil Mill – Rs 15,100 – 17,600.
Soyabean Oil Mill Delivery Delhi – Rs 14,900
Soybean Mill Delivery Indore – Rs 14,880
Soybean Oil Decam, Kandla – Rs 13,450
CPO X -Condla – Rs 11,800
Cottonseed Mill Delivery (Haryana) – Rs 14,300
Palmolin RBD, Delhi – Rs 13,500
Pamolin X- Condla – 12,400 (without GST)
Soybean Grain 10,100 – 10,200, Soybean Rs 10,000 – 10,050
Makka Khal (Sariska) Rs
