Directives now set for government to import foodstuffs for oilseeds development fund

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Mumbai, Ta. August 22, 2019, Thursday

In the Mumbai oil-seeds market, the prices of imported food items rose today while the indigenous edibles were calm. There were more than 3 to 5 tonnes of trades in Magdalena today. Meanwhile, world market news was encouraging as well.

Meanwhile, according to news from Delhi, the government is considering imposing a five per cent cess on the import of edible oils. This has resulted in consideration for applying for cess for oil seed development fund. There are reports that Madhya Pradesh is considering reducing the government market tax by half to one percent.

In the domestic currency market today, the impact of the dollar being higher against the rupee was also seen in particular, especially on imported foodstuffs. The prices were solid. In the Mumbai market today, there was an increase of Rs 5 per liter of hawala resale and Rs 6 of JNPT. Hawala reseller today traded between 5 and 5 tonnes. While direct delivery of the refinery traded around 5-7 tonnes at the headline of Rs 5 for delivery till September 6, Eranda September futures prices remained soft this evening.

Meanwhile, the price of Singtel in Mumbai spot market today was Rs 5 per kg. While the Rajkot side was in a mood like Holiday Mood, in the market today, the price of Soyatel was Rs. 2 per liter and Rs. 1 for the ref. Cottonseed oil prices were Rs 1 and Mustard prices were Rs. Sunflower bucks and Rifa bucks were called. While the price of copperall was up by Rs 5 per kg, it was Rs.

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