Peanut prices fell, all other oil-oilseed prices improved – Dainik Savera Times


New Delhi: Last week, there was a mixed trend in business in the oil and oilseeds markets of the country. On the one hand, there was a decline in the prices of groundnut oil and oilseeds amid the possibility of arrival of the new crop in the next 10-15 days, while on the other hand, due to a slight increase in oil prices abroad and festive demand, the prices of all other oils and oilseeds improved. Registered. According to the information, last week only a decline was seen in the prices of groundnut oil and oilseeds, because within the next 10-15 days, a small quantity of groundnuts will start arriving in the markets of the country.

But last week, the price of sunflower oil in foreign countries increased from 885 dollars to 900-910 dollars. Apart from the festive demand in the country, all other oil and oilseed prices improved. The price of palmolein oil abroad has also improved by between 5-10 dollars. Sources said that the arrival of mustard in the markets has decreased in the last week and apart from this, the festive demand is also increasing gradually due to which there has been a slight increase in the prices of mustard oil and oilseeds.

However, mustard is being sold in the market at a price lower than its minimum support price (MSP). Soybean oil and oilseeds prices also improved amid normal business. After the arrival of the new soybean crop, it will be possible to have some idea of ​​the future situation. Crude palm oil (CPO) and palmolein oil prices also showed an improving trend last week due to improving prices abroad.

Due to its cheapness, the demand for sunflower oil has increased last week, which had a positive effect on other edible oils. Due to the price of sunflower refined oil being very close to that of palmolein oil, retailers are purchasing more sunflower oil. He said that in order to continue running the Letter of Credit (LC) of banks, importers are selling their goods at a loss due to which there is loss of foreign exchange.

Sources said that those who are worried about even a small increase in oil prices are not seen to be showing the same concern about the rising price of milk. The food for these milch cattle i.e. cake is obtained only by crushing oilseeds. Compared to the previous weekend, the wholesale price of mustard seeds increased by Rs 35 last week and closed at Rs 5,510-5,560 per quintal.

The price of Mustard Dadri oil increased by Rs 120 and closed at Rs 10,120 per quintal. Mustard Pakki and Kachchi Ghani oil prices closed at Rs 1,720-1,815 and Rs 1,720-1,830 per tin (15 kg), showing a gain of Rs 10 each. In the week under review, soybean grain and loose prices closed at Rs 4,980-5,075 per quintal and Rs 4,730-4,845 per quintal with a slight improvement of Rs 10 each, respectively.

Soybean Delhi oil prices remained at the previous level i.e. Rs 9,550 per quintal, while Soybean Indore and Soybean Degum oil prices closed at Rs 9,460 and Rs 8,000 per quintal with a rise of Rs 10 and Rs 100 respectively. Contrary to the general trend of strengthening, in the week under review, before the arrival of the new crop, the prices of groundnut oilseed, groundnut Gujarat and groundnut solvent refined fell by Rs 90, Rs 200 and Rs 25 respectively to Rs 7,475-7,525, Rs 18,025 quintal and Rs 2,640- Closed at Rs 2,925 per tin.

After improvement in the prices of palmolein in foreign markets, during the week under review, the price of crude palm oil (CPO) strengthened by Rs 150 and closed at Rs 7,750 per quintal. The price of Palmolein Delhi increased by Rs 150 to Rs 9,000 per quintal and the price of Palmolein Ex Kandla closed at Rs 8,100 per quintal with a gain of Rs 100. In line with the general bullish trend, the price of cottonseed oil closed at Rs 8,525 per quintal with an improvement of Rs 25.

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