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Domestic edible oil prices soften due to fall in foreign markets

New Delhi, May 2 (PTI) Mustard, soybean oil-oilseeds, CPO, palmolein and cottonseed oil prices fell on Monday in the Delhi oil-oilseeds market amid a declining trend in overseas markets, while the prices of rest of oilseeds remained unchanged. .

Informed sources said that the Malaysia exchange is closed till May 4 and will open for trading on May 5, while the Chicago exchange saw a decline of 3.5 per cent.

Sources said that the demand for edible oils in the market is weak, leading to a bearish trend in the business. The arrival of mustard declined to 5.5 lakh bags on Monday from around 7 lakh bags last week. But due to weak demand, there was a fall in mustard oil and oilseeds prices. Due to being cheaper than palmolein and soybean, refined mustard oil is being made in abundance to meet its shortage.

He said that co-operative society Hafed should immediately buy mustard in the market and make stock of it, which will be useful for the country during the intervening time. By doing this, the government can also try the option of helping the poor in times of need and making mustard oil available to them cheaply through the Public Distribution System (PDS).

On the other hand, the Kaithal Mills Association has issued a warning to the oil mills, traders to stop the sale and manufacture of fake cottonseed cake cakes and said that strict action will be taken on receipt of such information.

Groundnut oil and oilseeds prices remained unchanged.

The prices of oil and oilseeds remained as follows on Monday:

Mustard oilseeds – Rs 7,790-7,840 (42 percent condition rate) per quintal.

Groundnut – Rs 7,160 – Rs 7,295 per quintal. Groundnut Oil Mill Delivery (Gujarat) – Rs 16,550 per quintal.

Groundnut Solvent Refined Oil Rs 2,735 – Rs 2,925 per tin.

Mustard oil Dadri – Rs 15,700 per quintal.

Sarson Pakki Ghani – Rs 2,465-2,545 per tin.

Sarson Kachchi Ghani – Rs 2,505-2,615 per tin.

Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal.

Soyabean Oil Mill Delivery Delhi – Rs 17,550 per quintal.

Soybean Mill Delivery Indore – Rs 17,050 per quintal.

Soyabean Oil Degum, Kandla – Rs 15,900 per quintal.

CPO Ex-Kandla – Rs 15,600 per quintal.

Cottonseed Mill Delivery (Haryana) – Rs 16,300 per quintal.

Palmolein RBD, Delhi- Rs 17,200 per quintal.

Palmolein ex-Kandla- Rs 15,900 (without GST) per quintal.

Soyabean grain – Rs 7,100-7,200 per quintal.

Soyabean loose Rs.6,800-6,900 per quintal.

Maize Khal (Sariska) Rs 4,000 per quintal.

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