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Wednesday, July 6, 2022

Edible oil gets a massive price cut: Here’s how much it will cost now | Economy News – Mrit News

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New Delhi: With the fall in excise duty, the price of petrol dropped by Rs 9.5 per litre, and Kachi Ghani oil prices have also plummeted. Since the opening of Indonesia’s exports, the price has dropped.

The liberalisation of exports from Indonesia has had an impact on the country’s market, notwithstanding the rise in edible oil on the international market. The majority of oil-oilseed prices fell last week. As a result, Kachi Ghani mustard oil has decreased in price by Rs 40. This is a significant decrease in the price of edible oil.

The price of mustard seeds declined by Rs 100 per quintal this week compared to the previous week, to Rs 7,515-7,565 per quintal. As a result, mustard Dadri oil declined by Rs 250 per quintal to Rs 15,050. On the other hand, mustard Pakki Ghani and Kachi Ghani oil prices declined by Rs 40 per tin (15 kg) to Rs 2,365-2,445 and Rs 2,405-2,515, respectively.

Despite the rise in overseas markets, soybean grains and soybean loose prices fell, closing at Rs 7,025-7,125 (soybean grain) and Rs 6,725-6,825 per quintal, respectively (soybean loose). Groundnut Solvent Refined was also down Rs 25 per tin, at Rs 2,625-2,815 per tin. 

Last week, the price of crude palm oil declined by Rs 500 to Rs 14,850 per quintal, Palmolein Delhi fell by Rs 600 to Rs 16,350, and Palmolein Kandla fell by Rs 520 to Rs 15,200 per quintal due to higher prices in overseas markets.

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