Local oilseeds prices fell due to reduction in import duty

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Local oilseeds prices fell due to reduction in import duty

New Delhi, Sep 11 (PTI) Almost all oilseeds, including soybean, CPO and palmolein, saw a fall in prices in the local oil-oil market on Saturday after the government on Friday night reduced the import duty of some edible oils by five and a half percent. It settled and the price closed showing loss.

Traders said late Friday night the government decided to reduce the import duty of edible oils like crude palm oil (CPO), palmolein, sunflower, soyabean degum and soyabean refined by five and a half per cent in order to increase the demand for edible oils during the festive season. prices can be controlled. After the decision to reduce the import duty, the prices of edible oils were seen falling in the oil market. Due to which the all-round declining trend was established and the prices of oil and oilseeds like mustard also closed weak.

He said that the price of mustard seed in Saloni Mandi also declined to Rs 9,400 per quintal from Rs 9,500 on Friday.

Sources said that despite the arrival of new soybean crop in the mandis, there is confusion over its price and oil plants at different places are procuring it at different rates. Saloni Walon has a soybean processing plant in Kota where its purchase works out to around Rs 11,000 a quintal including all surcharges. The purchase price of soybean in Dhuria, Maharashtra is Rs 9,200 a quintal (exclusive of tax) while in Latur Kirti, Maharashtra, the purchase price of soybean grain is Rs 9,000 a quintal (exclusive of tax).

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In the context of soybean, there is confusion due to the difference in prices at different places. The prices of other oilseeds remained at the previous level.

The wholesale price in the market was as follows- (Rs. per quintal)

Mustard oilseeds – 8,600 – 8,650 (42 percent condition price) Rs.

Groundnut – 6,735 – Rs 6,880.

Groundnut Oil Mill Delivery (Gujarat) – Rs 15,470.

Groundnut Solvent Refined Oil Rs 2,370 – Rs 2,500 per tin.

Mustard oil Dadri – Rs 17,600 per quintal.

Sarson Pakki Ghani – Rs 2,650 -2,700 per tin.

Sarson Kachchi Ghani – Rs 2,735 – Rs 2,845 per tin.

Sesame Oil Mill Delivery – Rs 15,500 – 18,000.

Soyabean Oil Mill Delivery Delhi – Rs 14,500.

Soybean Mill Delivery Indore – Rs 14,300.

Soyabean Oil Degum, Kandla – Rs 13,000.

CPO Ex-Kandla – Rs 11,400.

Cottonseed Mill Delivery (Haryana) – Rs 13,700.

Palmolein RBD, Delhi – Rs 13,000.

Palmolein Ex- Kandla – 11,900 (without GST)

Soyabean grain 8,600 – 8,900, Soyabean loose Rs 8,300 – 8,600

Makkah Khal (Sariska) Rs 3,800

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