Generally, the rate of sunflower oil is higher than that of soybean oil, but at present, the price of sunflower oil has become less than that of soybean oil. In such a situation, the farmers of sunflower seeds will be able to get the right price for the crop in the coming times.
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To overcome the shortage of edible oil, the government has allowed the import of edible oils. There has been so much import of soybean and sunflower oil in the oil-oilseed market that its effect can be seen on the sunflower crop in the coming days.
There has been a downward trend in the Delhi oil-oilseed market on Saturday. Almost all oil and oilseeds closed with losses.
Sunflower oil cheaper than soybean
PTI has quoted market sources as saying that the import of sunflower and soybean oil has reduced their prices. The sunflower which is being sown now, its adverse effect can be seen in the coming days. Generally, the price of sunflower oil is higher than that of soyabean. But at present the situation is that the price of sunflower oil is running Rs 4 per liter less than that of soyabean oil. The price of sunflower seed is even 20-25 percent below the minimum support price (MSP).
How will the farmers get the right price?
Market sources said that it is bound to discourage the country’s oilseed producing farmers due to high imports. When the government can reduce the import duty on the cost of edible oils, in such a situation, when the prices of edible oils at the ports have broken down by more than half, then the government should also think about increasing the import duty.
Import duty on sunflower oil was high
Sources said that before the price of soybean and sunflower oil started increasing, the import price of sunflower was $ 1,400 per tonne. At the same time, the import price of soybean oil was $ 1,350 per ton. At that time there was an import duty of 38.5 percent on both these oils and there was no problem in supply. After that the prices started rising, the price of sunflower oil increased to $ 2,450-2,500 per tonne and the import price of soyabean oil went up to $ 2,150-2,200 per tonne.
After this, the government started reducing the import duty on these oils in different phases and finally allowed duty free import of both these edible oils under the quota system.
Soybean and sunflower oil became cheaper
Sources said that earlier the price of sunflower in the retail market was up to Rs 225-235 a liter and the price of soybean oil was Rs 185-195 a litre. Now the price of sunflower oil is Rs 170-180 a liter while the price of soyabean oil is Rs 160-170 a litre. According to the maximum retail price (MRP), sunflower oil should be sold at Rs 125-130 per litre, but this oil is being sold at around Rs 170-180 per liter in the retail market. Similarly, according to the MRP, soyabean oil should be sold at Rs.125-135 per litre, but it is being sold at Rs.160-170 per litre.
He said that means the quantity in which the wholesale import price has come down, the consumers are not able to get the benefit in that quantity. This is all due to the MRP being fixed very high by the retail companies and small units.
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