Sources familiar with the market indicated that sunflower planting in the country is close and a lot of sunflower and soybean oil has been imported into the ports. The prices of these oils are so broken that it can affect the sowing of sunflowers in the country.
The Delhi oilseeds market experienced a mixed trend on Friday amid record imports of soybean and sunflower oil, while most oilseeds closed at their previous levels. Sources familiar with the market indicated that sunflower planting in the country is close and a lot of sunflower and soybean oil has been imported into the ports. The prices of these oils are so broken that it can affect the sowing of sunflowers in the country.
Sunflower seeds are sold below the minimum support price (MSP) in the mandis, but the price of sunflower oil in the retail market is Rs 30-40 per liter more than that of soybeans. The only way to control the situation is to impose import duties on these two imported oils to the maximum. Even if the prices of these two oils increase marginally due to the imposition of tariffs, there should not be any special effect on the higher income group that consumes these oils.
But by doing this, our native oil will be consumed in the market and we will get the right amount of oil cake and de-oil cake (DOC) for animal and poultry feed, the availability of which will reduce the prices of milk and eggs. The prices of milk, dairy products, eggs, chicken, etc. have risen substantially in recent days due to higher prices amid oilseed and DOC shortages. The sources said soybean oil prices fell amid strong imports of sunflower oil and soybeans.
While crude palm oil (CPO) and palmolein oil recovered due to the marginal correction on the Malaysian Stock Exchange. Most of the rest of the oilseeds remained unchanged. The prices of these oils have not changed, but their consumption is much lower. The sources said that around 29 years ago, sunflower was cultivated on 26 lakh 78 thousand hectares in the country and Karnataka, Maharashtra and Andhra Pradesh contributed more to this cultivation. But at present, this crop is cultivated only on about three lakh hectares in the country.
Out of this, the above sunflower was grown on 14 lakh hectares in Karnataka which is down to 1.20 lakh hectares today. Neither the government, nor the oil industry, nor farmers nor consumers are benefiting from the duty-free import quota system. On the contrary, adverse results are coming out. The biggest problem is the consumption of native oil such as mustard, so there is a danger of affecting the sowing of oilseeds.
Despite falling edible oil prices, the oil companies that sell the oil are depriving consumers of the benefit of falling oil prices by printing an inflated maximum retail price (MRP). 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. The sources said that it is necessary to end this quota system immediately.
Oilseed prices on Friday were as follows: Mustard oilseeds: Rs 6,040-6,090 (42 percent condition rate) per quintal. Peanuts – 6,450-6,510 rupees per quintal. Groundnut Oil Mill Delivery (Gujarat): Rs 15,425 per quintal. Refined groundnut 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 12,400 per cwt.
Indore Soybean Mill Delivery: Rs 12,200 per quintal. Degum Soybean Oil, Kandla: Rs 10,550 per quintal. CPO X-Kandla: Rs 8,350 per quintal. Cotton Seed Mill Delivery (Haryana): Rs 10,800 per quintal. Palmolein RBD, Delhi – Rs 10,000 per cwt. Palmolin X- Kandla: Rs 9,050 (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.