The price of soybean oil in the local oilseeds market has been tremendous on Wednesday as a result of last night’s crash on the Chicago Exchange. Despite a general trading session on the Chicago Exchange on Wednesday, last night’s rise has impacted the price of mustard oil in the domestic market, which has also improved mustard oil prices. With the arrival of the peanut summer crop, the price of peanut oilseed has plummeted, affecting local and export demand.
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Market sources said oil prices abroad have been raised due to rumors that import tariffs have been reduced. The Malaysia Exchange closed on Wednesday. Due to rumors, the price of soybean on the Chicago Exchange last night rose from 4 1,430 per ton to 46 1,461 per ton. The hike also affected soybean oil prices in the domestic market and soybean prices in Delhi, Indore and Digam rose by Rs 50, 100 and Rs 20 respectively.
The wholesale price in the market is as follows (Price – Rs. Per quintal)
- Mustard Oils – 7,375 – 7,425 (42% conditional price) Rs.
- Peanut Dana – Rs 5,870 – Rs 5,915
- Distribution of Peanut Oil Mill (Gujarat) – Rs 14,400
- Peel Solvent Refined Oil Rs 2,325 – Rs 2,355 per tin
- Mustard Oil Dadri – Rs 14,700 per quintal
- Mustard Pakki Ghani – Rs 2,345 -2,395 per tin.
- Mustard Raw Ghani – Rs 2,445 – Tin Rs 2,545
- Sesame Oil Mill Distribution – 16,000 Rs – 18,500.
- Soybean Oil Mill Distribution Delhi – Rs 15,300
- Soybean Mill Delivery Indore – Rs 15,100
- Soybean Oil Digam, Kandla – Rs 14,070
- CPO Ex-Condla – Rs 12,150.
- Cotton Seed Mill Distribution (Haryana) – Rs 14,100
- Palmolin RBD, Delhi – Rs 13,950
- Pamolin X- Condla – 12,900 (without GST)
- Soybean grain 7,750 – 7,850, Soybean loose 7,650 – 7,700 Rs.
- The Makkah Khal is worth Rs 3,800
