Government tightens rumor for mustard, soybean, rumor of reduction in import duty; government tightens rumors about mustard soybeans strengthened by rumor of decrease in import duty
Groundnut oil oilseed prices declined due to the arrival of summer crop of groundnut and affected local and export demand.
Sources in the market said that the price of oil in foreign countries was raised due to rumors that import duty was reduced. The Malaysia Exchange remained closed on Wednesday. Due to rumors, the price of soybean rose from $ 1,430 per ton to $ 1,461 per ton on the Chicago Exchange last night. The rise also impacted the soybean oil prices in the domestic market and the prices of soyabean Delhi, Indore and Digam rose by Rs 50, Rs 100 and Rs 20 respectively.
Sources said that the government has decided to stop the blending of mustard oil from June 8, which is a commendable step. With this, consumers will be able to get adulterated food oil which will also be healthy for them. Earlier, rice bran or some other edible oil was mixed in it.
Experts say that due to false rumors that the oil industry is causing huge losses to the farmers, the country has so far remained dependent on imports in terms of oilseed production. There is a dire need for change in this situation and it has become extremely important to achieve self-sufficiency as it will put restrictions on the arbitrariness of foreign companies.
He said that the government should take some steps to curb those who spread false rumors about reducing or increasing the import duty from time to time. This has a bad effect on the market.
The wholesale price in the market is as follows (Price – Rs. Per quintal)
Mustard Oilseeds – 7,375 – 7,425 (42% Condition Price) Rs.
Peanut Dana – Rs 5,870 – Rs 5,915.
Peanut Oil Mill Delivery (Gujarat) – Rs 14,400.
Groundnut Solvent Refined Oil Rs 2,325 – Rs 2,355 per tin.
Mustard Oil Dadri – Rs 14,700 per quintal.
Mustard Pakki Ghani – Rs 2,345 -2,395 per tin.
Mustard Raw Ghani – Rs 2,445 – Rs 2,545 per tin.
Sesame Oil Mill Delivery – Rs 16,000 – 18,500.
Soybean Oil Mill Delivery Delhi – Rs 15,300.
Soybean Mill Delivery Indore – Rs 15,100.
Soybean Oil Digam, Kandla – Rs 14,070.
CPO X-Kandla – Rs 12,150.
Cottonseed Mill Delivery (Haryana) – Rs 14,100.
Palmolin RBD, Delhi – Rs 13,950.
Palmolin X- Kandla – 12,900 (without GST)
Soyabean grain 7,750 – 7,850, Soybean loose 7,650 – 7,700 rupees
Mecca Khal Rs 3,800
Mumbai, May 26 (Language) The rupee gained 19 paise to close at 72.77 (temporary) per dollar on Wednesday amid a weakening trend in the US currency in overseas markets.
The rupee opened strong at 72.85 per dollar in the interbank foreign exchange market. During trading it went up to a high of 72.75 per dollar. It also went to a low of 72.87 per dollar.
At last the rupee closed at 72.77 per dollar, up by 19 paise compared to the previous closing level. The rupee had closed at 72.96 per dollar on Monday.
Meanwhile, the dollar index representing the US currency declined by 0.26 percent to 89.61 as compared to the six currencies.
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