Mustard Oil Price Down On 4 July 2022 Edible Oil Price Update Today Check Here Latest Rates
Edible Oil Price: Due to the sharp fall in the...
Edible Oil Price: Due to the sharp fall in the prices of oil in the global market, there has been a fall in the Delhi oil-oilseeds market on Monday, that is, the prices of edible oil have fallen today. There has been a big fall in oil prices on the Malaysia Exchange, due to fall of about 8 per cent in morning trade. Apart from this, the Chicago Exchange is closed on Monday.
Oil became cheaper by 35 to 40 percent
Due to this strong fall, especially the prices of imported oils like Soyabean Degum, CPO, Palmolein have fallen by about 35-40 percent in the last one month. The prices of domestic oils were already going down, so the prices have broken under the pressure of fall, but the decline of domestic oil is minor compared to imported oils.
Groundnut prices remained at the previous level
Sources said that business in cottonseed has almost come to an end and namkeen companies or consumers in Gujarat are meeting the shortage of cottonseed oil with groundnut. Due to this, the prices of groundnut oil and oilseeds remained at the previous level. Sources said that the condition of the importers is very bad and their goods are lying at the ports. The importers were already forced to sell at a lower price than the market price. Monday’s steep fall has broken their back and there is a fear of sinking of loans taken by these importers from banks.
Decreasing availability of mustard
Meanwhile, the situation of importers has worsened with the government giving exemption to importing companies doing oil refining to import two million tonnes of sunflower and two million tonnes of soybean degum duty-free throughout the year, sources said. Sources said that the availability of mustard is continuously decreasing and its demand is good, so the impact of the fall has not been much on it.
importers are worried
Sources said that the importers are upset from all sides as they are now facing a crisis of paying more money for that bank loan due to depreciation of rupee at the dollar rate at which they had earlier contracted to import edible oil. . Sources said that uncertainty in the case of edible oils can only be addressed by increasing oil-oilseeds production.
Let’s check how was the price of oil and oil on Monday-
- Mustard oilseeds – Rs 7,385-7,435 (42 percent condition rate) per quintal
- Groundnut – Rs 6,765 – Rs 6,890 per quintal
- Groundnut Oil Mill Delivery (Gujarat) – Rs 15,710 per quintal
- Groundnut Solvent Refined Oil Rs 2,635 – Rs 2,825 per tin
- Mustard oil Dadri – Rs 15,000 per quintal
- Sarson Pakki Ghani – Rs 2,360-2,440 per tin
- Mustard Kachhi Ghani – Rs 2,400-2,505 per tin
- Sesame Oil Mill Delivery – Rs 17,000-18,500 per quintal.
- Soyabean Oil Mill Delivery Delhi – Rs 13,850 per quintal
- Soybean Mill Delivery Indore – Rs 13,500 per quintal
- Soyabean Oil Degum, Kandla – Rs 12,000 per quintal
- CPO Ex-Kandla – Rs 11,000 per quintal
- Cottonseed Mill Delivery (Haryana) – Rs 13,800 per quintal
- Palmolein RBD, Delhi – Rs 13,000 per quintal
- Palmolein Ex-Kandla – Rs 11,900 (without GST) per quintal
- Soyabean grain – Rs 6,350-6,450 per quintal
- Soyabean loose Rs.6,100- Rs.6,150 per quintal
- Maize Khal (Sariska) Rs 4,010 per quintal
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