Prices of all major edible oils, including mustard oil, increased at the end of the week. Prices of all major edible oils, including mustard oil, increased at the end of the week. Festive demand is increasing continuously.
New Delhi: In the midst of the festive season, the general public has once again suffered a major setback. The price of edible oils is on fire again. Due to increase in demand for oil and shortage of oilseeds in the festival, the prices of almost all oilseeds including Mustard Seeds/Oil, Groundnut, Soyabean and Crude Palm Oil (CPO) have increased in the market. According to experts, the price of edible oils has also increased due to the damage caused to oilseed crops due to the recent rains.
There will be more increase after Diwali
According to the report, there is still a stock of 10-12 lakh tonnes of mustard left in the country, which is mostly with the farmers. On the other hand, the festive demand is increasing continuously and there will be a sharp increase in the demand for mustard after Diwali. In such a situation, the price of mustard in Saloni Shamsabad was increased from Rs 8,900 to Rs 9,200 a quintal at the end of last week.
Increase in global prices accelerated
Union Food Secretary Sudhanshu Pandey said that there is a possibility of softening of mustard prices only after the next crop arrives in February 2022. He said that due to the increase in the global prices of edible oils, the prices of mustard oil have been affected. Actually, the price is usually dropped at the time of arrival of new crop. In such a situation, farmers are forced to sell their crops at low prices. That is, farmers have to deal with losses.
Price of Mustard Kacchi Ghani
In the same sequence, the price of mustard seeds increased by Rs 145 to Rs 8,870-8,900 per quintal last week. The price of mustard Dadri oil increased by Rs 450 from the previous week to Rs 18,000 a quintal at the end of the week under review. Mustard Pakki Ghani oil prices rose by Rs 40 to Rs 2,705-2,745 and Kachchi Ghani also rose by Rs 40 to Rs 2,780-2,890 per tin. That is, there has been a tremendous increase in raw ghee as well.
Bumper jump in soybean prices
Soybean grain prices rose by Rs 50 to Rs 5,300-5,500 per quintal at the end of the week under review due to festive season demand. Soyabean Indore jumped by Rs 420 to Rs 13,670 and Soyabean Digum by Rs 380 to close at Rs 12,580 per quintal.
Groundnut refined also accelerated
At the end of the week under review, the demand for groundnut increased due to the increase in cottonseed oil. Due to this, the price of groundnut improved by Rs 15 to close at Rs 6,300-6,385 per quintal. At the same time, the price of groundnut solvent refined rose by Rs 10 to Rs 2,090-2,220 per tin.
Palm oil price rise
At the same time, the price of crude palm oil (CPO) increased by Rs 300 to Rs 11,450 a quintal. Palmolein Delhi prices increased by Rs 160 to Rs 13,060 and Palmolein Kandla oil rose by Rs 60 to Rs 11,860 per quintal. Cottonseed oil prices rose by Rs 450 to Rs 13,950 per quintal.
