Cheap Edible Oil in the Global Market

In the Delhi oil oilseeds market, the prices of all domestic oilseeds, including mustard, groundnut, soybean, CPO, palmolein, and cottonseed, improved on Saturday amid a sharp trend in foreign markets. Traders said the Chicago Exchange was up two percent. He said that even after reaching the historical low level of the rupee against the dollar, imports became costlier.

The effect of a sudden price breakdown will be visible.

Sources said that going forward, the problem of light oil in the country will increase. Let us tell you that the importers who imported lakhs of tonnes of oil are in a bad way as a result of the sudden drop in prices.Now they will have to spend their imported oil at higher prices in the country's markets at a cheaper price than the import price so that they can pay off the loans from the banks.

Consider reducing the fee.

Let us tell you that by reducing the import duty, the loss of revenue to the country is different. In such a situation, some major oil organizations like SEA and SOPA of the country have also asked the government to reconsider the decision to reduce the import duty.

Oil became cheaper by Rs 50 a liter.

Sources said that the prices of edible oils abroad have softened by about Rs 50 per liter, but the benefits of this fall are not reaching the consumers. If this problem is solved, then the reasons for stagnation in the country's edible oil and oilseed production will be properly understood, and by fixing this whole system, the problem will be solved.

increase oil production.

Let us tell you that when the oil prices fell abroad, the work of retailing edible oils at high prices continued on the pretext of maximum retail price (MRP) and consumers are still upset due to the lack of restrictions on such retailers. Sources said that the government will have to take the initiative to increase the production of oilseeds by giving incentives to the farmers, and there is little chance of any permanent solution coming up with the reduction in duty.

Let's check the latest oil rates:

Mustard oilseeds-Rs 7,410–7,460 (42 percent condition rate) per quintal

Groundnut-Rs 6,655-Rs 6,780 per quintal

Groundnut Oil Mill Delivery (Gujarat)-Rs 15,410 per quintal

Groundnut Solvent Refined Oil is priced at Rs 2,580-Rs 2,770 per tin.

Mustard oil Dadri-Rs 15,100 per quintal

Sarson Pakki Ghani-Rs 2,355-2,435 per tin

Mustard Kachhi Ghani-Rs 2,395-2,500 per tin

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

Soyabean Oil Mill Delivery Delhi-Rs 14,400 per quintal

Soybean Mill Delivery Indore-Rs 14,000 per quintal

Soyabean Oil Degum, Kandla-Rs 12,700 per quintal

CPO Ex-Kandla-Rs 11,450 per quintal

Cottonseed Mill Delivery (Haryana)-Rs 13,720 per quintal

Palmolein RBD, Delhi-Rs 13,450 per quintal

Ex-Kandla palmolein costs Rs 12,150 (excluding GST) per quintal.

Soyabean grain-Rs 6,410–6,460 per quintal

Soyabean oil at Rs. 6,210-Rs. 6,260 per quintal

Rs 4,010 per quintal maize khal (Sariska)