A mixed trend of edible oil and oilseeds business was seen in the Delhi market on Thursday amid a sharp trend in foreign markets . Despite the absence of customers , the price of indigenous cottonseed oil, including CPO and palmolein, improved. On the other hand, imports of soybean oilseeds and groundnut oilseeds, apart from soybean oilseeds and groundnut oilseeds, closed with a fall in the demand for oil-free oilseeds (DOC). Due to increase in arrivals, the prices of mustard oilseeds also closed with a slight decline, while the prices of other oilseeds remained at the previous level.
how was today’s business
The Malaysia Exchange is up about 1.8 percent, while the Chicago Exchange is currently up about half a percent after the night’s rise of about three percent. Market sources said that due to increase in arrival of new crop in the mandis, there was a loss in the price of mustard oilseeds. The daily arrival of mustard oilseeds in the mandis has increased to about 1.25 lakh sacks. On the other hand, due to the rise in foreign markets, the prices of mustard oil remained at the previous level. He said that due to the costlier prices of imported oils, all the emphasis has come on mustard and the work of making refined mustard has also gained momentum, which is used for mustard. not good. This should be curbed, otherwise there will be a huge problem of mustard in the future. Sources said that due to the fall in DOC demand, the price of soybean and groundnut oilseeds also declined. .
Decrease in the price of indigenous oils
Traders said that this is for the first time that the price of indigenous groundnut oil has become cheaper by about Rs 9 in Gujarat due to the price of imported crude palm oil (CPO), while it has become cheaper by about Rs 17 a kg as compared to palmolein. According to the source, the increase in the prices of CPO and Palmolein will affect the import of these oils. In such a situation, there may be a problem in meeting the local demand because the local production cannot meet the demand. According to the source, when the prices of CPO and palmolein are skyrocketing and domestic oil is cheap, then imports will also be less. In such a situation, the question arises that from where the local demand will be fulfilled. Rest of the oil and oilseeds prices remained unchanged.