The prices of almost all oilseeds, including mustard, groundnut, CPO, in the Delhi oil-and-oil market have remained stable over the past week due to the rise in local festive demand amid trends in overseas markets. In view of the shortage of livestock in the country, soybean grain and loose prices remain at a loss due to discussions about the import of soybean oil-free oats (soybean-DOC).
Traders said the impact of the overseas rise last week was visible at the local level. In addition, the prices of almost all oilseeds, including mustard, groundnut oil, oilseeds and soybean oil, have seen a significant improvement in festive demand. According to sources, oil processors and farmers are saddened to hear that the country is importing 1.5 million tonnes of DOC. In the next one and a half months, the soybean crop will be on its knees and the DOC and soybean grain prices will be affected, he says.
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The interests of the country’s farmers were protected by the importation of DOC by oil processors and farmers four months in advance, and farmers would no longer have to buy soybean seeds at a higher price, arguing that this would reduce the cost of their cultivation. Now the cost of cultivation is high, and the impact of soybean prices on imports affects their interest.
It is noteworthy that 82 percent of DOC is obtained from soybean powder and only 18 percent oil, while mustard powder provides 40 to 42 percent oil.
Meanwhile, the matter, which is due to be heard in the Delhi High Court on August 13, has been postponed till August 13 against an injunction by the Food Regulator FSSAI (Indian Food Safety and Quality Authority) for mixing mustard oil with other cheap edible oils. Postponed. This is good news for consumers and mustard farmers.
In Maharashtra’s Latur fame, soybean meal prices fell to Rs 10,800 per quintal, down from Rs 9,500 per quintal during the week. In contrast, the price of offshore soybean digam rose from $ 1,302 to $ 1,307 a ton. Due to this, soybean deegum and residual soybean oil prices improved. Sources said the arrival of mustard in various knees in the country has slowed down. The arrival of about two lakh bags last week was down to 1.80 lakh bags in the week under review. The price of mustard seeds in Saloni, Agra and Kota in Rajasthan has increased from Rs 8,400 to Rs 8,550 per quintal.
CPO and Palmolin oil prices improved over the reporting weekend following a rally on the Malaysia Exchange last week. Market sources said there is no mustard inventory other than farmers, cooperatives and traders. In such a situation, co-operatives Hafed and Nafed have to stockpile the mustard by purchasing mustard at the market rate to meet the demand for the coming winter and festive season.
Last week, the price of mustard seed went up from Rs 7,850-7,900 per quintal last weekend. Increased from 125 to 7,975-8,025. Mustard Dadri oil improved by Rs 350 to Rs 15,900 per quintal. Sarson Pakki Ghani and Kachchi Ghani tin rose by Rs 30 each to Rs 2,555-2,605 and Rs 2,640-2,750 respectively.
The soybean grain and loosening ended at Rs 9,000-9,025 and Rs 8,700-8,750, respectively, with a loss of Rs 275 and Rs 1,300, respectively, due to fears of discontinuation of the soybean oil-free shell (DOC). On the other hand, due to the rise in soybean dye prices abroad, the remaining soybean oils improved. , Under review over the weekend: Rs 15,200, Rs 15,000 and Rs 13,800 per quintal.
There was a demand for peanut oil around the cottonseed. Usually the price of chickpeas is 20-30 rupees more than cottonseed oil. Due to this situation, groundnuts improved from Rs 200 to Rs 6,495-6,640 over the weekend, while the peanut Gujarat quintal was priced at Rs. 14,750 as amended and Rs. Prices of groundnut solvents improved by Rs 80 per tin to Rs 2,275-2,405.
Over the weekend, crude palm oil (CPO) prices rose by Rs 320 to Rs 12,120 per quintal. Palmolin Delhi and Palmoline Kandla oil prices ended at Rs 13,750 and Rs 12,650 per quintal, showing an improvement of Rs 250 per quintal respectively. The price of cotton seed oil rose by Rs 100 to Rs 14,400 per quintal compared to last weekend.