Due to the fall in the prices of edible oil in the global market, the prices of oil in the domestic market have also slipped. Last week, the prices of mustard, soybean, groundnut, cottonseed, CPO and palmolein have seen a fall. Apart from this, other oil prices have been normal.

50 per kg fall

Traders said that the wholesale price of imported soybean degum, CPO, palmolein and sunflower oil fell by about Rs 50 per kg. Apart from this, due to the sudden fall in the prices of oilseeds abroad at the old price at which the importers have imported edible oils, these importers may have to sell their goods at a price of $ 50-60 below the purchase price.

Consumers are not getting the benefit of cheap oil

With the rupee falling to its all-time low against the US dollar, importers have to shell out more money. Due to this, where the importer is in a bad condition in the country, they will now have to sell the oil at a much cheaper price than the purchase, but even after all this, the benefit of this decline is not being passed on to the consumers because the maximum retail price (MRP) in the retail business. Under the guise of this, arbitrary prices are being collected from the consumers.

Sources said that there is zero business in CPO and business in cottonseed has also ended. CPO, palmolein and soybean oil oilseeds prices also declined against last weekend due to weakening of Malaysia Exchange and loss of $ 200-250 in overseas market. Apart from this, soybean oil oilseeds in the week under review due to weak demand for mustard oil. There was a slight decline in prices.