Reduction in prices due to reduction in import duty on edible oils

Relief for housewives as prices of edible oils fall due to festivals

(Gujarat News Office) MUMBAI: Prices of edible oils in the Mumbai Oilseeds market were lower today amid instructions from the Center to reduce import duties on various imported edible oils during the festive season. Palm oil, which is priced at Rs 15 per 10 kg, was quoted at around Rs 1,215 to Rs 150 in hawala resell today. The direct delivery price of importers was around Rs. Behind these reports, an old can of groundnut oil worth Rs. 20 reduced to Rs. 20 fell to 20-30, old cans of cottonseed Rs. 20 reduced to 210, new coaches Rs. 20 reduced to 200-50 and old palmolin cans Rs. 20 was reduced to 150-2050.

The import duty on edible oils has been reduced by about 5.5 per cent on crude palm oil, soyoil digam and crude sunflower oil, citing an increase in agricultural welfare cess against the government's reduction in import duty.

Import duty on CPOs fell by 7.5 per cent, soybean oil by 2.5 per cent and crude sunflower oil by 4.5 per cent. 7.5 per cent of RBD palmolin and Rifa. Soybean oil is up 4.5 per cent.

In addition, the government will have to provide weekly stock details to the various sections involved in the oil and oilseed trade, and such details will have to be disclosed on government ports, experts said.

However, in the wake of this, Inspector Raj and fears of growing corruption were also being discussed in the market today. And this was opposed by Shankarbhai Thackeray, National President of the All India Edible Oil Traders Federation. He has also demanded the government to remove GST on oilseeds. Meanwhile, there were indications that the reduction in import duty would remain in force till a new order is issued.

Meanwhile, in the Mumbai market today, the price of sunflower was expected to fall to Rs 1,310 to Rs 150 for ref and Rs 150 to Rs 150 for raw. Kandla CPO prices were quoted at Rs 6 to 7 for various shipments. Hazira soyoil prices were between Rs 150 and Rs 15. The price of Jaipur mustard seed was Rs.

In Rajasthan, the revenue from mustard was 30,000 times and that of All India was 1.5 lakh times. The price of refined soyoil at Rajasthan Kota was Rs. Jamnagar Singtel was priced at Rs. Prices at Rajkot ranged from Rs 15 to Rs 150.

Prices for various deliveries of sunflower at Navi Mumbai port ranged from Rs 1,610 to Rs 150. At Maharashtra Dhule, cottonseed oil was priced at Rs 150 to Rs 12. At Kandla, the price of palmolin was Rs 1,312 and in October it was Rs 1,210. While soyoil was Rs.