New Delhi: The import of edible oils into India has been greatly affected after the Russia-Ukraine war. The largest import of edible oil in India comes from Indonesia followed by Malaysia, but due to the world crisis, these countries have reduced the import of edible oils. At the same time, due to the weak crop due to seasonal reasons, there is a decrease in the import of soybean oils from countries like America and Brazil.
India used to import sunflower oil from Russia and Ukraine, which is currently closed. Sunflower oil is the most expensive oil among all edible oils in the present era. However, the price of other edible oils is also not low. The demand for mustard is increasing due to being the cheapest among all edible oils, but due to the condition of arrival of mustard in a limited range of 6 to 7 lakhs, the market price of mustard may see a rise and fall. are getting.
At present, the bullish and bearish phase of mustard remains together. According to a recent report, the fresh price of mustard has reached Rs 6,500 in the market, as the arrivals are normal. It is believed that as soon as there is a slight decrease in the arrivals, the price of mustard will be on the verge of increasing, the price is also expected to go up to Rs 7,000.
On the other hand, due to the stock in large plants consuming mustard oil, there has been a decrease in the purchase of mustard oil for some time, due to which a drop of ₹ 50 to ₹ 100 is being seen in some market. But this decline will not last long, because the demand in the market is not being supplied as much. Traders do not have much stock of mustard oil. Some farmers have availability of mustard, but seeing the rising price of edible oils in the market price, they are keeping an eye on the rising price of mustard, so that they can get good profit.
Talking about the foreign level, the soybean crop has been affected a lot due to seasonal reasons, so it can be assumed that the demand for mustard oil in foreign countries will be met from India itself, in such a situation also there is every possibility of increase in the price of mustard.
first published:April 27, 2022, 3:24 p.m.
