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Edible oil- oilseeds prices broken due to weak demand

New Delhi, May 7 (PTI) Mustard and groundnut oil oilseeds prices fell on Saturday at the Delhi oil-oilseeds market due to intensification of speculation about lifting of ban on export of edible oil to Indonesia and subdued demand. On the other hand, soybean degum and palmolein as well as cottonseed oil prices improved after a sharp fall on the Chicago Exchange on Friday night.

The prices of other oilseeds including soybean oilseeds, soybean Indore oil and CPO remained at the pre-levels.

Traders said that the Chicago Exchange had a fall of about 2.5 percent in the beginning on Friday, but in the late night it closed with a decline of half a percent, showing improvement. Due to this correction trend, Soyabean Delhi & Digum and Palmolein oil prices improved.

Edible oil prices firmed up due to costlier imports due to depreciating rupee. Cottonseed oil prices also improved due to adequate demand. Despite less trading at higher prices, the prices of Soyabean Indore Oil, CPO and Soyabean Dana and Loose remained at the previous level.

Sources said last year due to non-availability of stock limit on oilseeds, traders had kept a stock of around 3 million tonnes of mustard, which helped in meeting the mustard requirement in October-November. In such a situation, the cooperative institutions should make some stock of mustard at the market price on behalf of the government, which will be useful in the future.

Apart from this, according to sources, this year, despite being the cheapest, the shortage of edible oils is being met from mustard and a large quantity of refined mustard is being made. The sources demanded the government to put a stop to this.

According to trade sources, the government should avoid reduction in import duty to increase the availability of edible oils and should encourage farmers to increase oilseed production.

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

Mustard oilseeds – Rs 7,665-7,715 (42 percent condition rate) per quintal.

Groundnut – Rs 6,960 – Rs 7,095 per quintal.

Groundnut Oil Mill Delivery (Gujarat) – Rs 16,000 per quintal.

Groundnut Solvent Refined Oil Rs 2,675 – Rs 2,865 per tin.

Mustard oil Dadri – Rs 15,400 per quintal.

Sarson Pakki Ghani – Rs 2,420-2,500 per tin.

Sarson Kachchi Ghani – Rs 2,460-2,570 per tin.

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

Soyabean Oil Mill Delivery Delhi- Rs 17,050 per quintal.

Soybean Mill Delivery Indore – Rs 16,500 per quintal.

Soyabean Oil Degum, Kandla – Rs 15,550 per quintal.

CPO Ex-Kandla – Rs 15,200 per quintal.

Cottonseed Mill Delivery (Haryana) – Rs 15,750 per quintal.

Palmolein RBD, Delhi – Rs 16,750 per quintal.

Palmolein ex-Kandla – Rs 15,600 (without GST) per quintal.

Soyabean grain – Rs 7,050-7,150 per quintal.

Soyabean loose Rs.6,750- Rs.6,850 per quintal.

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

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