Transition of profiteering in Madhya Pradesh: Branded companies earning Rs 45 on one kg mustard oil
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Hariom Gaur, Morena. Mustard prices rose so much this year that the farmers’ faces blossomed happily. Mustard prices are increasing at a faster rate than they are expensive in the market. Oil traders are taking advantage of this. Many well-known companies are making a profit of at least Rs 45 per kg in one kg of mustard oil. The transition from profiteering to wholesale oil prices and mustard oil prices of branded companies is coming to light.
All the branded companies in the market are supplying pure mustard oil or raw mustard oil, out of which a company is selling mustard oil for Rs 202 or some Rs 210 per liter. Not only this, some international companies have started selling mustard oil more than Rs 220 per liter. Many mustard oils are packed and sold in the market in Morena, which is counted in the major mustard growing districts of Madhya Pradesh.
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The price of mustard oil of these local brands is also 180 to 190 rupees a liter. By 20 days before the price of mustard reached Rs 7400 a quintal, the price of mustard oil increased from Rs 170 to Rs 200 a liter. Now for a fortnight, mustard prices are around 6700 to 6800 rupees quintal, but mustard oil is being sold in the open market only at increased prices.
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Director of Singh Oil Mill in Morena, Ashok Singh said that mustard oil is being supplied from him for Rs 155 per kg. Vinod Kumar Aggarwal, director of IB Oil, an oil mill in Sheopur district, said that all his oil branded company and other oil traders are taking it in bulk at Rs 157 per kg.
After purchasing mustard oil from oil mills for Rs 155-157 per kg, branded companies are making a profit of at least Rs 45 by selling the same oil for Rs 200 to 210 liters. While selling oil in liters instead of kilos, only their packing and other expenses come out.
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The cost of transporting one liter of oil is estimated at two to a quarter to two rupees per liter and for packing oil in one liter bottle it costs about nine rupees i.e. about 11 rupees. One liter weighs 911 grams as compared to one kilo i.e. 89 grams less weight. If 150 rupees is added per kg, then 89 grams of oil is more than 13 and a half rupees.