New Delhi. In the era of inflation, there is relief news from the kitchen. Actually, the price of edible oil has come down. Amid the sharp fall in the price of palm-palm olein oil in foreign markets, the prices of all oilseeds closed with a decline in the country last week. Market sources said that the price of soybean degum oil, which was $ 1,235-1,240 per tonne in the previous week, fell to $ 1,155-1,160 per tonne in the reporting week.

Apart from this, those who review edible oil were talking about the shortage of palm and palm olein stock in Indonesia and Malaysia, in that context the situation was completely opposite. In fact, due to the decrease in spot demand at higher prices amid a 30 percent drop in exports in Indonesia, the stock of palm and palm olein edible oil there increased from 23.2 million tons to about 30 million tons, that is, the stock increased by about 23 percent in the month of September. Due to this situation, the prices of CPO and palm olein collapsed abroad, the effect of which was also seen in other oilseeds.

NAFED and HAFED have most of the mustard stock.
Sources said that the consumption of mustard in the country is about 3.5-4 lakh sacks per day. Any trader or farmer has a very limited stock of mustard whereas the co-operative institutions NAFED and HAFED have most of the mustard stock. Therefore, this stock should be sold carefully. Mustard should be sold to oil millers instead of traders and stockists so that after crushing, edible oil can be made available to the common consumer in the market.

Cotton arrival in the markets decreased.
Sources said that the Cotton Corporation of India (CCI) sold cottonseed oilseed at a very low price at the beginning of last week. This affected the price of cotton in other states. Secondly, the increase in the business of fake cottonseed cake also affected the price of cotton and its prices decreased. Due to this, the arrival of cotton in the markets decreased from 1.96 lakh bales to 1.05 lakh bales. This also affected other oilseeds in the country and their prices fell. He said that apart from this, the government should consider giving subsidies to increase the export of soybean de-oiled cake (DOC) for the relief of soybean farmers.

Last week, the wholesale price of mustard grain declined by Rs 150 to close at Rs 6,550-6,600 per quintal. The wholesale price of mustard Dadri oil declined by Rs 500 to close at Rs 13,650 per quintal. The price of mustard Pakki and Kachi Ghani oil declined by Rs 50 each to close at Rs 2,260-2,360 and Rs 2,260-2,385 per tin (15 kg), respectively. The wholesale price of soybean grain and soybean loose declined by Rs 200 each to close at Rs 4,425-4,475 and Rs 4,125-4,160 per quintal, respectively, during the reporting week. The prices of soybean Delhi, soybean Indore, and soybean degum also fell by Rs 850, Rs 700, and Rs 975 respectively, and closed at Rs 13,800, Rs 13,700, and Rs 9,700 per quintal, respectively.

Selling at prices lower than MSP in Rajasthan
: Peanut oil-oilseeds prices also declined as compared to last weekend due to selling at prices lower than MSP in Rajasthan. The price of peanut oilseeds closed at Rs 6,350-6,625 per quintal with a decline of Rs 75, whereas peanut oil Gujarat closed at Rs 14,700 per quintal with a decline of Rs 975 and the price of peanut solvent refined oil closed at Rs 2,220-2,520 per tin, showing a decline of Rs 150.

CPO prices fall by Rs 900
Crude palm oil (CPO) prices fell by Rs 900 to close at Rs 12,400 per quintal. Palmolein Delhi prices fell by Rs 850 to close at Rs 14,000 per quintal and Palmolein ex-Kandla oil prices fell by Rs 800 to close at Rs 13,000 per quintal. In line with the general declining trend, cottonseed oil also declined by Rs 1,050 to close at Rs 12,650 per quintal during the reporting week.