Caution in following upward trend in imported edible oils

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Mumbai, Ta. November 27, 2019, Wednesday

There was new demand in the Mumbai oil-seeds market today. Prices kept sluggish heading up. The world market was soft. In the Mumbai market, the price of 10 kg was Rs. On the Rajkot side the price was Rs 970 to Rs 975 and the price of 15 kg was Rs 1580 to 1590. Cotton washed at Rs 750 to 755 while in Mumbai, cottonseed oil prices were Rs 800.

On the Rajkot side this afternoon, peanut arrivals were reported to be around 80 to 85 thousand times and the present price there was Rs. 830 to Rs. In Madhya Pradesh, the price of soybean was Rs 760 to 765 and the refinery was Rs 800 to 805. In the world market, soybean prices were reported at $ 755 on CNF and December 645 for crude palm oil.

Meanwhile, as per the directives flowing from Delhi, there is a high level of thought that the import of all refined edible oils imported into the country should be stopped and the import of only raw-crude edible oils will be allowed.

In addition, the idea of ​​reducing the import duty of such edible oils from the new 2020 year has begun in the market today.

In the spot market today, the price of Soyatl was Rs.780 and Rifa was Rs.790 while Sunflower prices were Rs.785 and Rifa was Rs 825 to 830.

Mustard prices were at Rs 840. While the price of copper was Rs 1,310 per 10 kg.


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