IGST rate hikes on imported goods: Deals, castor prices up

Mumbai, Ta. October 16, 2019, Wednesday

New trade in the Mumbai oil-seeds market was slow today, though prices of various imported edible oils were talking high today. World market news was encouraging. In Malaysia, today's futures futures were finally closed at 1, 2, 3 and 5 points plus. While there the prices of the palm product were quiet. In the spot market in Mumbai today, there was an increase of Rs 5 per liter of hawala resale. While JNPT prices were Rs. The price of crude palm oil CPO Kandla was Rs.

In the futures market today, CPO prices remained at Rs 5 in the evening against the futures prices in the evening. Chicago Needle Futures Futures Overnight In America, prices rose 5 to 5 points in the evening after rising 5 to 5 points. In the overnight trend, futures futures were 5 to 5 points while soybean futures fell 5 points to 5 points.

New York Cotton futures, however, were buzzing with overnight 5, 2 and 3 points. Players were watching how the negotiations between China and the United States in the world market now move forward, China has shown readiness to increase imports of various agricultural commodities from the United States, but there were reports of China insisting that the US reduce tariffs on Chinese goods.

Meanwhile, the price of Singtel in Mumbai market today was Rs 5 while the price of Rajkot was Rs 5 and Rs 5 per kg. According to world market news, the US attitude to the Hong Kong question was a directing opposition to China.

Meanwhile, groundnut arrivals on the Gondal side were reported at around 3,000 times in the morning and Rajkot side at around Rs 1,000, and the places where the attendance was speaking at a rate of Rs 5 to Rs 5 per kg and Rs 1 to 5 in height. In the Mumbai market, soybean prices were trading at Rs 5 and Rs 5 for Digam, while Sunflower prices were at Rs 5 and Riff 5.

Mustard prices were Rs 1 and copparels were priced at Rs 5 per kg. The news of the South was encouraging. The price of cottonseed oil was Rs. Diwali prices were hiked by more than Rs 5 a kg today. While the price of Mumbai castor was Rs. In the castor futures market today, prices were trading higher than Rs 5 in the evening. Meanwhile, soybean arrivals today were estimated at around 1 lakh times nationwide.

Arrivals were reported at around two lakh times and the price of the goods was Rs 1 to 3 in the low and Rs 1 to 5 in the high. There, soyatal prices remained at Rs 5 to Rs 3 this afternoon and Rs 1 to 3 for refinery. Palmetal production in Malaysia during the first seven days of the current month was about 8.5 percent.

Meanwhile, the idea of ​​a government launching a five percent increase on Integrated GST (IGST) on refined pallets imported into India was due to start in January. According to India's agreement with South East Asian countries, import tariffs have to be reduced from January and the government is planning to increase GST against such reductions.

Currently, IGST rate on imported crude palm oil in the country is five percent. In the US market this evening, soybean futures were down in minus and soybean futures plummeted in the Chicago market. New York Cotton futures were up 5 points higher this evening in projection.