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Market prices: soybean-palmolin up, mustard stocks strengthen as declines

Access to crude palm oil and soybean digam in the country has risen from 50 to 100 quintals following the futures price of palm oil and soybeans in Chicago Malaysia. On the other hand, the price of mustard has also gone up by Rs 50 after the stock was restricted. However, prices of groundnut oilseeds and groundnut oil have remained stable at present.

According to market sources, prices of soybean oil, its seeds and soybean oil-free canal (DOC) are being increased by four to five per cent abroad. According to experts, the weather is very dry in Argentina, Brazil, the two main soybean producing countries. In addition, loading and unloading of goods has been affected as a result of strikes by workers in Argentine ports. That’s why soybean digam futures were up four percent in Chicago. The price of soybean digam reaching Kandla has gone up by Rs 100 to Rs 11,700 per quintal. It was quoted at 16 1,165 per tonne.

Read more: Learn how and where to sell

Such is the situation with crude palm oil in Malaysia. Crude palm oil is being sold in Malaysia at 1,055 per tonne due to rising demand. Yesterday (Thursday) the government also announced import duty on crude palm oil and soybean digam, which was slightly increased. Experts say the country should focus on increasing domestic oilseed production by reducing its dependence on edible oil imports. Even after the reduction in import duty, imports are becoming more expensive due to rising prices abroad. With the development of domestic oils, foreign exchange will be spent on imports and employment opportunities will increase with the increase in work in oil mills.

The wholesale price in the market on Friday was as follows (Rs. Per quintal)

  • Mustard oilseeds – 6,325 – 6,375 (42% conditional price) Rs.
  • Peanut Wings – Rs.5,410- Rs.5,475.
  • Peanut Oil Mill Distribution (Gujarat) – Rs.13,550.
  • Peanut solvent refined oil 2,120 – Rs 2,180 per tin.
  • Mustard oil – Rs 12,500 per quintal.
  • Mustard Pakki Ghani – Rs. 1,915 -2,065 per tin.
  • Mustard Raw Mill – Rs 2,035 – Rs 2,160 per tin.
  • Sesame Oil Mill Distribution – Rs.11,100 – Rs.15,100
  • Soybean Oil Mill Distribution Delhi – Rs 12,900.
  • Soybean Mill Delivery Indore – Rs. 12,500.
  • Soybean Oil Digam, Kandla – Rs.11,700.
  • CPO Ex Kandla – Rs 9,850.
  • Cotton Seed Mill Distribution (Haryana) – Rs.10,850
  • Pamolin RBD, Delhi – Rs 11,400.
  • Palmolin Kandla 10,500 (excluding GST)
  • Soybean Oilseed Mill Delivery Rs. 4,625-4,650, Luffe 4,500-4,525
  • Maize husk (sariska) Rs. 3,555

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