Mustard, soybean oil prices fall, groundnut oil rises

Mustard, soybean oil prices fall

Groundnut oil oilseeds prices strengthened due to export demand. But due to weak local demand, the prices of other edible oils and oilseeds registered a softening.

edible oils ,Edible OilA mixed effect has been registered in the prices in the wholesale market today. Groundnut oil export (ExportGroundnut oil oilseeds saw a substantial increase in the price of groundnut oil oilseeds on Saturday in Delhi oil-oilseeds market due to heavy demand, while mustard (mustard)Mustard oil), soybean oil oilseeds, CPO, palmolein, cottonseed edible oil prices declined. The prices of rest of oilseeds remained the same in Saturday’s trade. Traders said that due to the demand for groundnut oil abroad, exporters are buying groundnut oil in Gujarat at a price of Rs 160 per kg. Due to this export demand, the prices of groundnut oil and oilseeds strengthened. But due to weak local demand, the prices of other edible oils and oilseeds registered a softening.

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Retail prices high even after fall in edible oil prices

Sources claimed that there has been a fall in the wholesale price of edible oilseeds. When asked why common consumers are getting mustard oil at Rs 190-210 per liter or more despite the fall, sources said the wholesale price has come down. The wholesalers are supplying the retail companies at the rate of Rs 152 a liter (including surcharge) for further supply. But retail companies are increasing this price arbitrarily, which the government should think about curbing. He said that if the people involved in the raids roam the market and check the Maximum Retail Price (MRP) of the retailing companies, then the problem will start getting resolved. But it will be difficult to handle the rising inflation if the retailing companies go beyond a limit to collect arbitrary money. Sources said that according to the wholesale price, mustard oil should be available in retail at a maximum of Rs 158-165 a liter and soybean oil a maximum of Rs 170-172 a liter. The government will have to make as much effort as possible to supply edible oil to the consumers at this price. Due to lack of demand in the market, the prices of CPO and Palmolein oil closed with a fall.