Groundnut Oil Prices Decline
On Wednesday, the price of groundnut oil and other oilseeds decreased in the country’s oil-oilseed market. The wholesale prices for soybean oil and cottonseed oil also saw a drop.
Stable Prices for Other Oils
In contrast, the wholesale prices of mustard oil, soybeans, raw palm oil (CPO), and palm oil remained unchanged.
Market Conditions
The Shikugo Exchange is experiencing a decline, while the Malaysia Exchange is closed today and tomorrow. Trading will resume on Friday.
Support Price for Peanuts
The minimum support price (MSP) for peanuts is set at Rs 6,860 per quintal, but they are currently being sold in the market for Rs 5,200-5,300 per quintal. This weak market perception is causing difficulties for peanut farmers, leading to concerns that their situation may resemble that of sunflower farmers, whose production has also dropped.
Soybean Oil Price Decline
The prices of soybean oil have fallen because they are being sold lower than the import cost, which is Rs 95.50 per kg. Currently, it’s available in the market at Rs 91.50 per kg.
Increase in Cottonseed Prices
The Cotton Corporation of India (CCI) has raised the price of cottonseed by Rs 50 per quintal, resulting in a slight increase in cottonseed prices. However, this has led to a minor decline in the price of cottonseed oil.
Concerns Over Adulteration
There is a pressing need for the government to address the issue of adulterated oil, as it poses a significant threat to the entire oil-oilseed industry.
Current Prices of Oils and Seeds
– Mustard oilseeds: Rs 6,000-6,100 per quintal
– Peanuts: Rs 5,325-5,650 per quintal
– Peanut oil mill delivery (Gujarat): Rs 13,900 per quintal
– Peanut refined oil: Rs 2,110-2,410 per tin
– Mustard oil (Dadri): Rs 12,950 per quintal
– Mustard paved Ghani: Rs 2,225-2,325 per tin
– Mustard raw Ghani: Rs 2,225-2,350 per tin
– Sesame oil mill delivery: Rs 18,900-21,000 per quintal
– Soybean oil mill delivery (Delhi): Rs 13,100 per quintal
– Soybean mill delivery (Indore): Rs 12,900 per quintal
– Soybean oil (Digam, Kandla): Rs 9,150 per quintal
– CPO X (Kandla): Rs 12,150 per quintal
– Betana mill delivery (Haryana): Rs 12,400 per quintal
– Pamolin RBD (Delhi): Rs 13,700 per quintal
– Pamolin X (Kandla): Rs 12,700 (without GST) per quintal
– Soybean Dana: Rs 4,200-4,250 per quintal
– Soybean loose: Rs 3,900-4,000 per quintal
