Edible Oil News in English

Edible Oil Prices Update: After Election, Mustard and Soybean Oil Prices Drop!

Source Timesbull

Posted on December 7, 2024

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Despite the rise in the Chicago Exchange, the prices of mustard oil oilseeds and soybean oilseeds declined in major markets across the country on Friday due to weak local demand. Market sources reported that groundnut oil-oilseeds, soybean oil, crude palm oil (CPO), palm olein oil, and cottonseed oil prices remained unchanged. The Malaysia Exchange closed with a slight decline, while the Chicago Exchange showed an upward trend. Weak demand contributed to the drop in mustard oil-oilseed prices. However, traders are optimistic that the high prices of palm olein and CPO could reduce imports, potentially increasing the demand for mustard oil in the future.

Additionally, the price of soybean oilseeds fell due to weak local and export demand for de-oiled cake (DOC). Despite the rise in the Chicago Exchange, soybean oil prices remained stable. Traders believe the demand for mustard may rise as Indigenous oil-oilseeds struggle to fill the gap left by reduced palm olein and CPO imports.

The prices of oilseeds are as follows:

• Mustard oilseeds: ₹6,550–₹6,600 per quintal
• Groundnut: ₹6,250–₹6,625 per quintal
• Groundnut oil mill delivery (Gujarat): ₹14,500 per quintal
• Groundnut refined oil: ₹2,185–₹2,485 per tin
• Mustard oil Dadri: ₹13,650 per quintal
• Mustard Pakki Ghani: ₹2,265–₹2,365 per tin
• Mustard Kachi Ghani: ₹2,265–₹2,390 per tin
• Sesame oil mill delivery: ₹18,900–₹21,000 per quintal
• Soybean oil mill delivery (Delhi): ₹13,825 per quintal
• Soybean oil mill delivery (Indore): ₹13,775 per quintal
• Soybean oil degum (Kandla): ₹9,825 per quintal
• CPO (ex-Kandla): ₹13,300 per quintal
• Binola mill delivery (Haryana): ₹12,750 per quintal
• Palmolein RBD (Delhi): ₹14,700 per quintal
• Palmolein (ex-Kandla): ₹13,600 per quintal (excluding GST)
• Soybean grain: ₹4,325–₹4,375 per quintal
• Soybean loose: ₹4,025–₹4,060 per quintal
• Maize cake (Sariska): ₹4,100 per quintal

How to check the Edible Oil Prices online, step-by-step guide:

• Step 1: Visit a Reliable Source
  Go to the official websites of the Indian Oilseeds and Produce Export Promotion Council (IOPEPC) or the Ministry of Consumer Affairs.
  Alternatively, you can use apps like AgriBazaar, Agmarknet, or eNAM for real-time data.
• Step 2: Search for “Edible Oil Prices”
  Use the search bar to look up the latest rates for mustard, soybean, peanut, and other oils.
• Step 3: Choose the Market/City
  Select your preferred market or city for location-specific prices.
• Step 4: Review the Prices
  The updated rates will be displayed, including information on wholesale and retail prices.

To read more about Edible Oil News continue reading Agriinsite.com

Source : Times Bill