Generally, the price of soybean oil is around Rs 5 per kg of mustard, but the price of soybean oil is Rs 25 per kg over the weekend. Last week, the price of soybean DOC was running between Rs. Similarly, due to heavy demand for peanut DOC, prices of peanut oil and oilseeds were strong enough to be under review over the weekend.
The mustard bite has improved by Rs 15
Last week, the price of mustard seed went up from Rs 7,725-7,775 per quintal last weekend. It increased by 50 per cent to Rs7,775-7,825. Mustard oil has also increased from Rs 250 to Rs 15,550 per quintal. The Sarson Pakki Ghani and Kachchi Ghani tins also closed at Rs 2,530-2,580 and Rs 2,615-2,725 per tin, respectively, on the checked weekend. 30 and Rs.
Soyabean grain costs Rs
Soybean grain and soybean granules loose prices and loose prices Rs 1,000 and Rs925 per quintal, respectively, on non-local oil and export demand (DOC). Soybean Delhi (Refined), Soyabean Indore and Soyabean Decam prices ended at Rs 15,150, Rs 15,050 and Rs 13,750 per quintal, respectively, on the back of increased demand for the weekend at Rs 100, 200 and 300 respectively.
CPO to Quintal Rs 11,750
Groundnut cereals improved from Rs 400 to Rs 6,245-6,390, while peanut Gujarat quintal improved from Rs 200 to Rs 14,500. When processing groundnut solvent, it costs Rs 30 per tin, Rs 2,235-2,365 per tin. Over the weekend, crude palm oil (CPO) prices rose by Rs 350 to Rs 11,750 per quintal. Palmolin Delhi and Palmoline Kandla oil improved by Rs 230 and Rs 100 and ended at Rs 13,580 and Rs 12,400 per quintal respectively.
The price of oil and oilseeds is on record
Prices of almost all oilseeds, including mustard, soybean, in the Delhi oil-and-oil market closed last week, amid a trend in the overseas market, with heavy local and export demand gaining momentum. DOC exports this year are up nearly 300 percent over the previous year, creating a DOC shortfall. Considering the huge demand from the DOC, the prices of mustard, soybean and groundnut oil-seeds have closed with a substantial correction over the weekend of the review. Due to the shortage of soybean grain, the price of its oilseeds has risen to a record high, sources said.
Also Read: Smaller stocks made big gains, with the investor portfolio worth Rs 31 lakh crore
Notably, soybean oil yield is about 18 percent, while mustard oil is 40-42 percent. Due to high demand for soybean, the price of mustard declined by Rs 25-26 per kg over soybean, but the price of mustard was generally five to six rupees higher than soybean.
In overseas markets, soybean degam prices rose from $ 1,280 to $ 1,352 on the Chicago Exchange. Sources revealed that Huffed, Nafed and other firms sold about 18-20 lakh tonnes of mustard during the July-December period. There is no stock in these units. Sources said the CPO and Palmolin oil prices were closed in the week ahead with a significant improvement over the week following the rise in Malaysia Exchange and ending the ban on palmolin imports. There is a demand for pickle makers, festive demand and the green vegetable season will only increase.