Baja sources said that the importation of sunflower and soybean oil and its cheap prices may negatively affect sunflower planting. In general, the price of sunflower oil has remained higher than that of soybeans.
The Delhi oilseeds market experienced a downward trend in trading on Saturday with almost all oilseeds closing at a loss. The domestic market softened after the Chicago Stock Exchange fell 2.5 percent on Friday for the night. Baja sources said that the importation of sunflower and soybean oil and its cheap prices may negatively affect sunflower planting. In general, the price of sunflower oil has remained higher than that of soybeans.
But at present, the situation is that the price of sunflower oil is going down by Rs 4 per liter even as compared to soybean oil. The price of the sunflower seed is even 20 to 25 percent below the minimum support price (MSP). He said this is meant to discourage oilseed-producing farmers in the country. When the government can reduce the import tariff when edible oils are expensive, in such a situation, when the port prices of edible oils have broken down by more than half, then the government should also think about increasing the import tariff. import.
The import price for sunflower was $1,400 a ton and soybean oil was $1,350 a ton before soybean and sunflower oil prices began to rise, the sources said. At that time, both oils had an import duty of 38.5 percent and there were no supply problems. After that, prices started to rise, with sunflower oil rising to $2,450-2,500 per ton and soybean oil import prices climbing as high as $2,150-2,200 per ton.
After this, the government started to reduce the import duties on these oils in different phases and finally allowed duty-free importation of these two edible oils under the quota system. The sources said that previously the retail market price of sunflower was Rs 225-235 per liter and soybean oil was Rs 185-195 per litre. Now, the price of sunflower oil is 170-180 rupees per liter while the price of soybean oil is 160-170 rupees per liter.
According to the maximum retail price (MRP), sunflower oil should sell at Rs 125-130 per liter, but this oil sells for around Rs 170-180 per liter in the retail market. Similarly, according to the MRP, soybean oil should sell for Rs 125-135 per litre, but it sells for Rs 160-170 per litre. He said that means that the amount the wholesale import price has gone down, consumers can’t get the benefit by that amount.
This is all because the Maximum Retail Price (MRP) is set very high by retail companies and small units. The sources said that by imposing import tariffs on edible oils to the maximum, the indigenous oilseeds will be consumed in the market and we will get enough oilcake and de-oilcake (DOC) for animal feed and poultry, the availability of which will increase. for milk and eggs Prices will be lower.
Oilseed prices on Saturday were as follows: Mustard oilseeds: Rs 5,980-6,030 (42 percent condition rate) per quintal. Groundnut: 6,425-6,485 rupees per quintal. Groundnut Oil Mill Delivery (Gujarat): Rs 15,400 per quintal. Refined peanut oil Rs 2415-2680 per can. Dadri mustard oil: 12,400 rupees per quintal. Pakki Ghani Mustard – Rs 1990-2020 per can. Sarson Kachi Ghani – Rs 1950-2075 per can. Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal.
Delhi Soybean Oil Mill Delivery: Rs 12,300 per cwt. Indore Soybean Mill Delivery: Rs 12,050 per quintal. Degem Soybean Oil, Kandla: Rs 10,500 per quintal. CPO X-Kandla: Rs 8,250 per quintal. Cotton Seed Mill Delivery (Haryana): Rs 10,650 per quintal. Palmolin RBD, Delhi: Rs 9,900 per cwt. Palmolin X- Kandla – Rs 8900 (without GST) per quintal. Soybean: Rs 5,395-5,475 per quintal. Loose soybeans: Rs 5,135-5,155 per quintal. Khal of corn (Sariska): 4,010 rupees per quintal.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.