Rajkot: While the spell season is abundant for chaotic plant farmers around 33 lakh tons projected to harvest, don’t expect your kitchen budget to share booty.
Reason? While plants are higher than last season, eating oil prices may not see a reduction in the opening season.
Many consumers are ready for the whole year in the October-November period when fresh oil floods the market, but the oil factory and exporter claims this year may prove extraordinary because the price of peanut oil is expected to remain high.
The price of tin peanut oil 15kg touches Rs 2,600 even when the government must cut import duties with vegetable oil twice to curb prices in the domestic market this year.
However, prices remain stable between Rs 2,400 and 2,500.
Gujarat produces around 12 lakh tons, peanut oils from their own plants and nuts that come from other states to Gujarat to destroy.
Samir Shah, Oil President Edible State Gujarat and the oil seed association said, “We expect a good demand for export when the season starts.
There are questions for $ 1,600-1700 per ton at this time.” Last year, China’s oil imports were eaten from India High enough because the country suffered loss of plants.
According to a rough estimate, China imports around 2.25 lakh tons of peanut oil from India last year.
China prefers peanut oil for other vegetable oils and is the largest importer of peanut oil from India.
This year also, looking at the international market scenario, Chinese demand is expected to remain high.
Exporter of peanut oil and peanut oil, Pressur Desai said, “The price of palm oil and soybeans is high in the international market.
When the price difference between other vegetable oils and narrow peanuts, China only buins peanut oil.
However, if the price difference is more than 25 Percent, China also imports other oils too.
“The price of cotton oil is also still equivalent to peanut oil.
The President of the Saurashtra Oil Mills Association (SOMA), Kishor Viradiya, said that this year’s market price is expected to remain between Rs1,100 and 1,200 per 20kg.
“Import oil prices such as high palms and soybeans and there are 50 percent loss in cotton plants.
Therefore, the price of cotton oil will also remain high and chaotic oil.”