Compiled by: Business desk
Last updated: August 28, 2023, 3:10 PM IST
Edible oil prices remained high in foreign markets.
Soybean Delhi, Soybean Indore and Soybean Degum oil fell by Rs 275, Rs 175 and Rs 450 to close at Rs 10,125, Rs 10,025 and Rs 8,150 per quintal respectively.
The price of edible oil has long been a major concern for the general public. However, last week, due to the sale of edible oils at a price below cost by the importers, there was a downward trend in the wholesale prices of almost all edible oils and oilseeds in the oil oilseeds market in Delhi. However, edible oil prices remained high in foreign markets during this period.
Reports said there was no decline abroad all week, but importers imported soft oils such as sunflowers and soybeans at lower prices. So today let’s take a look at the latest edible oil rates.
According to reports, compared to the previous weekend, the wholesale price of mustard seeds fell by Rs 75 to close at Rs 5,610-5,660 per quintal. The price of Mustard Dadri oil fell by Rs 150 to close at Rs 10,650 per quintal. Mustard seed oil and Kachi Ghani oil fell Rs 20-20 each to close at Rs 1,770-1,865 and Rs 1,770-1,880 per can (15 kg) respectively.
In the reporting week, prices of soybean grains and loose soybeans closed at Rs 5,080-5,175 per quintal and Rs 4,845-4,940 per quintal, respectively, falling Rs 10-10. Soybean Delhi, Soybean Indore and Soybean Degum Oil also fell by Rs 275, Rs 175 and Rs 450 to close at Rs 10,125, Rs 10,025 and Rs 8,150 per quintal respectively. Groundnut Oilseeds, Groundnut Gujarat and Groundnut Solvent Refined lost Rs 100, Rs 300 and Rs 25 respectively in the reporting week to Rs 7,765-7,815, Rs 18,550 and Rs 2,710 respectively, ahead of the imported cheap edible oils despite shortage of supplies.
Crude palm oil (CPO) prices fell by Rs 75 during the reporting week to close at Rs 8,150 per quintal. Palmolein Delhi fell Rs 150 to Rs 9,300 per quintal, and Palmolein X Kandla closed at Rs 8,450 per quintal, showing a loss of Rs 75 in the reporting weekend. Cottonseed oil prices fell by Rs 175 to reach Rs 9,025 per quintal, in line with the general trend of decline despite stock shortages.
