Due to this drop in edible oil prices, it has become difficult to consume the next mustard on the market. Sources familiar with the market said it appears that instead of self-sufficiency in oilseeds, we are becoming completely dependent on imports.
Due to the record import of sunflower oil, the Delhi oilseeds market saw a sharp drop in all domestic oilseeds on Thursday. Due to this drop in edible oil prices, it has become difficult to consume the next mustard on the market. Sources familiar with the market said it appears that instead of self-sufficiency in oilseeds, we are becoming completely dependent on imports.
In the month of January, under the duty-free quota system, sunflower oil was imported at a maximum of around 4,72,000 tons, while its average monthly consumption in the country is between 1.5 and 2, 2 lakh tons. In other words, 200 percent more sunflower oil than required has been imported. Similarly, the import of soybean oil has risen to about four lakh tons in January. With these cheap imports, who would buy the expensive mustard?
The sources expressed fear that some big oil businessmen have oil plants in Argentina, Brazil and may have their own vested interests. They probably don’t want the country’s effort to achieve self-sufficiency to succeed. The funny thing is that oil prices are falling and consumers are still not reaping the substantial benefits of falling oil prices. One can check the price of sunflower oil by visiting the retail market.
Retail oil companies have been depriving consumers of the benefit of falling oil prices by inflating the maximum retail price (MRP) mark. If the government were to force oil producing companies to provide maximum retail price (MRP) information on the government portal on a regular basis, then the problem will start to resolve itself. In view of the danger of non-consumption of indigenous oilseeds, there may be a shortage of oilcakes and de-oilcakes (DOC) used for livestock and poultry feed.
The drop in edible oil prices is such that sunflower seed has been selling below the minimum support price (MSP) for a long time and now mustard may also face the same threat. The sources said that no one in the country is benefiting from the duty-free import quota system and everyone has kept quiet about the complications that arise from this system. Oilseed prices on Thursday were as follows: Mustard oilseeds: Rs 6,040-6,090 (42 percent condition rate) per cwt.
Peanuts – 6,450-6,510 rupees per quintal. Groundnut Oil Mill Delivery (Gujarat): Rs 15,425 per quintal. Refined peanut oil Rs 2420-2685 per can. Dadri mustard oil: 12,550 rupees per quintal. Pakki Ghani Mustard – Rs 2,010-2,040 per can. Sarson Kachi Ghani – Rs 1970-2095 per can. Sesame Oil Mill Delivery – Rs 18,900-21,000 per quintal. Delhi Soybean Oil Mill Delivery: Rs 12,450 per cwt.
Indore Soybean Mill Delivery: Rs 12,250 per quintal. Degem Soybean Oil, Kandla: Rs 10,600 per quintal. CPO X-Kandla: Rs 8,250 per quintal. Cotton Seed Mill Delivery (Haryana): Rs 10,800 per quintal. Palmolin RBD, Delhi: Rs 9,900 per cwt. Palmolin X- Kandla – Rs 9,000 (excluding GST) per quintal. Soybean: Rs 5,420-5,500 per quintal. Loose soybeans: Rs 5,160-5,180 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.