Edible Oil Price in Indore: Weak offtake in groundnut oil, partial decline in prices

Edible Oil Price in Indore: Naiduniya Representative, Indore. Due to lack of expected demand for groundnut oil and shortage of funds in the market, many plants are selling it by cutting prices. Due to this, there was a partial decline in the prices of groundnut oil. On Tuesday, groundnut oil fell by Rs 10 to Rs 1490-1510 per ten kg in Indore and Rs 510 per ten kg in Mumbai. However, there is less scope for further recession.

Due to the ongoing turmoil in the international oil market, the Indian oil market is also being affected. Due to limited inquiries at lower prices, the price of soy oil has remained stable. Soya oil Indore was quoted at Rs 945-950, palm oil Indore at Rs 950 per ten kg. Here, CBOT soy oil is being said to be strong due to US’s weekly export estimate being equal to the market expectation of 10 lakh tonnes and USDA’s report of export sales of 1.26 lakh tonnes of soy DOC. There was an increase in the FOB price of soya oil due to increase in Basic in Argentina. There is an estimated decline of 15.91 percent in export and import of palm oil in February, while production may decrease by six percent and the stock of palm oil may fall to 19.1-19.3 lakh tonnes.

On Tuesday, KLCE was seen trading at minus 51 points and projection at minus 18 points. KLCE will remain directionless due to no major movement in Dollar, CBT and China markets. The total arrival of soybean across the country was 2 lakh 55 thousand bags, out of which one lakh bags were recorded in Madhya Pradesh. Indore Cantonment Mandi soybean was quoted at Rs 4400 to Rs 4500, mustard at Nimari Rs 6100-6300, Raida at Rs 4100-4400 per quintal.

Loose oil prices – (Price per ten kg) Groundnut Oil Indore 1490-1510, Mumbai Groundnut Oil 1510, Indore Soybean Oil Refined 945-950, Indore Soybean Solvent 900-905, Indore Palm 950, Mumbai Soya Refined 930, Soya Degum 878, Mumbai Palm Oil. 880, Rajkot Oil 2390, Gujarat Loose 1475, Kapasya Oil Indore Rs 890.

Soybean plant purchase price – Prakash 4545, Ruchi 4460, Ambika Kalapeepal 4550, Avi Agro 4550, Betul 4635, RH Sihoni 4675, Rama 4450, Saawariya 4575, Sonika 4575, Snehil Soya 4575, Vippy 4530, Ambika Javra 4600, Mittal 4550, Salasar. 4590, Dhirendra Soya Neemuch 4615, Divya Jyoti 4550, Hariom Refinery 4600, Khandwa Oil 4575, Living Food Shujalpur 4575, Mittal Dewas 4550, Neemuch Protein 4600, Patanjali Food 4460.

Cotton cake – (60 kg Bharti) Indore 1825, Dewas 1825, Ujjain 1825, Khandwa 1800, Burhanpur 1800, Akola Rs 2850.