Mustard-soybean oil has become cheaper, due to which… when will consumers benefit?

Inflation in the country is at an extreme. Meanwhile, there is relief that prices of edible oils ranging from mustard to soybean oil have softened in capital Delhi. But will it benefit customers?

From mustard to soybean oil, the price of edible oil in the capital Delhi has seen flexibility.

Image credit source: PKBnews file photo

For the common man, oil prices are taxed by those who work to drive inflation. Oil prices ranging from mustard to soybeans have been on the decline for a long time now. The wholesale oil-oilseeds market in Delhi saw a fall in the prices of mustard, soybean, crude palm oil, palm oil etc. on Saturday.

Quoting a market source, PTI reported that trade in the market has come to a standstill due to the Makar Sankranti holiday. Due to this, the prices of groundnut oil and oilseed crops remain the same. However, the reason for the decline in other oil prices is special.

Edible oil is stored at the port

According to the news, there are stocks of cheap imported edible oil in many ports of the country. Due to this, flexibility is seen in oil prices in the market. At the same time in many countries of the world the price of oil has decreased due to the decrease in the price of edible oil.

Domestic crops are expensive, oil is also expensive

According to reports, prices of desi oilseeds in India are very high. This has increased costs, while prices of light domestic oils such as mustard, groundnut, soybean and cotton are under pressure. No significant flexibility was recorded in domestic oil prices.

Sources say that the government has to take initiative to stop the import of cheap oil in the country. Otherwise, the country will find it difficult to cultivate the soon-coming mustard crop and the earlier-coming soybeans, and domestic stocks are likely to either increase or be depleted.

Market experts say the government should end the duty-free import exemption of edible oil first. Rather, the focus should be on imposing duties on oil imports, as this duty-free oil does not seem to benefit retail buyers. On the contrary, there is a strong possibility of loss of farmers at the domestic level.

Why buyers are not getting cheap oil?

According to reports, the import price of soybean, sunflower oil at the port is Tk 102-103 per liter, so customers should get it at Tk 125-135 per liter in the retail market. Although currently its price is between 175 to 200 rupees in any corner of the country. Whereas consumers have to buy this oil at higher prices due to arbitrary MRP determination in malls and big stores.

Similarly, a 900 gram packet of groundnut oil retails for around Rs 170. But it has MRP Rs 240 printed on it. These little things can cause oil prices not to be cheap.

Oil and oilseeds prices in Delhi Mandi on Saturday were as follows:

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  • Mustard oilseeds – Rs 6,680-6,730 per quintal (42 per cent condition rate).
  • Groundnut – Rs 6,675-6,735 per quintal.
  • Groundnut Oil Mill Delivery (Gujarat) – Rs.15,780 per quintal.
  • Groundnut refined oil Rs 2,490-2,755 per tin.
  • Mustard Oil Dadri – Rs 13,300 per quintal.
  • Mustard Pakki Ghani – Rs 2,025-2,155 per tin.
  • Mustard Raw Ghani – Rs 2,085-2,210 per tin.
  • Sesame oil mill delivery – Rs 18,900-21,000 per quintal.
  • Soybean Oil Mill Delivery Delhi – Rs 13,200 per quintal.
  • Soybean Mill Delivery Indore – Rs.13,100 per quintal.
  • Soybean Oil Degem, Kandla – Rs 11,550 per quintal.
  • CPO X-Kandla – Rs 8,350 per quintal.
  • Cottonseed Mill Delivery (Haryana) – Rs.11,750 per quintal.
  • Palmolin RBD, Delhi – Rs.10,000 per quintal.
  • Palmoline X- Kandla – Rs.9,000 per quintal (excluding GST).
  • Soybean seed – Rs 5,550-5,650 per quintal.
  • Soybean loose – Rs 5,295-5,315 per quintal

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