Mustard Oil Price: On the inflation front, the common man seems to be getting some relief. After the reduction in excise duty on petrol and diesel by the government two days ago, now another relief news is coming. With the reduction of excise duty, the rate of petrol was reduced by Rs 9.5 per liter. Now there has been a big decline in Kachi Ghani Mustard oil. The reduction in price has come since the opening of Indonesia’s exports.
Exports from Indonesia open
Amidst the rise in edible oil in the foreign market, the opening of exports from Indonesia has had an impact on the country’s market. Last week, most of the oil-oilseeds prices saw a declining trend. The effect of this was that Kachi Ghani mustard oil has become cheaper by Rs 40. This is considered to be a big fall in the rate of edible oil.
Sources said that the price of mustard seeds fell by Rs 100 to Rs 7,515-7,565 per quintal this week as compared to last week. Due to this, mustard Dadri oil closed at Rs 15,050 per quintal with a fall of Rs 250. On the other hand, the rates of Mustard Pakki Ghani and Kachchi Ghani oil fell by Rs 40 each to Rs 2,365-2,445 and Rs 2,405-2,515 per tin (15 kg) respectively.
Sources said that despite the rise in overseas markets, the prices of soyabean grains and soyabean loose also declined and they closed at Rs 7,025-7,125 and Rs 6,725-6,825 per quintal. Groundnut Solvent Refined also fell by Rs 25 to Rs 2,625-2,815 per tin.
Last week, due to higher prices in foreign markets, the price of crude palm oil also fell by Rs 500 to Rs 14,850 per quintal.
