Edible Oil Becomes Cheaper, Price Falls Of All Oils Including Soybean, Groundnut. Check Latest Rates

Edible oil Price Today: Due to the slashed prices of cottonseed and groundnut, there has been a drop in the prices of edible oils including soybean and palm oil.

By : ABP News Bureau | Updated at : 11 Dec 2021 11:40 PM (IST)

Edible Oil Becomes Cheaper, Price Falls Of All Oils Including Soybean, Groundnut. Check Latest Rates Edible Oil Becomes Cheaper, Price Falls Of All Oils Including Soybean, Groundnut. Check Latest Rates

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Edible Oil Price Down: Edible oil prices in the country have reduced. Due to the lowered prices of cotton seed and ground nuts on Saturday, there has been a decrease in prices of oil also. Many edible oils including soybean and palm oil have become cheaper. In addition, the prices of soyabean seeds have also seen improvement.

Soybean oil cheaper

Market sources said that soybean farmers were avoiding selling their crops at a lower price, which has led to a fall in the prices of soybean grains. On the other hand, local demand for DOC has also improved soybean oilseeds. He said the cheaper prices of light oils like soybean and cottonseed as compared to palmolein have affected the demand for palmolein. This led to Crude Palm Oil (CPO) and palmolein oil prices closing at a lower rate. He said importing CPO and palmolein over light oils was an expensive deal.

Groundnut oil cheaper by Rs 35 per kg

Prices of mustard and groundnut oil and oilseeds, soybean oil and many other oil and oilseeds remained at the previous level. Sources said that groundnut oil prices have slashed by Rs 35 per kg, Cotton seed oil by about Rs 23 per kg in the last two and a half months, but the government should set up a committee to ensure that the benefits of the reduced prices reach to the common consumers who monitor the prices constantly.

The wholesale prices in the market remained as follows: (Price - Rs. per quintal)