Effective import duty of imported oils led to rising market prices

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Mumbai, Ta. November 16, 2019, Saturday

New demand was slow in the Mumbai oil-seeds market today. However, prices of imported edible oils were talking high. There were reports of the government raising the tariff value used as a benchmark for import of various edible oils imported into the country, and this led to the high prices in the present market.

According to the news from Delhi, the tariff value of crude palm oil CPO has been increased by 4 to 5 dollars while the same to Palmolin's tariff value has been increased to 4 dollars. Soyatel's tariff value has risen to $ 5. This has led to an increase in the effective import duty of imported edible oils. Such effective import duty has increased the CPO by Rs. While Palmoline has increased by Rs. Against such an effective import duty tonne of soyatel, market analysts said. Following this, there were indications that prices in the present market had increased. In the Mumbai market, the prices of pallets were hiked by Hawala resale and JNPT prices were Rs.

Crude Palm Oil CPO Kandla prices were up by Rs. The prices of soyetail were Rs. 6 for digam and refined by Rs. Sunflower prices were at Rs 1 and refined at Rs 5. However, the price of cottonseed oil remained below Rs 1.

In the Mumbai market, Singtel prices were at Rs 5 a kg while Rajkot was priced at Rs 5 and Rs 5 per kg for Rs 5. Cotton washed prices remained at Rs 5 to Rs.

In the Mumbai market today, Mustard prices were trading at Rs 5 and Rs 5 kg in Copper. Meanwhile, the price of Diwali was soft at Rs 5 a kg today while the current price of Mumbai castor was Rs. In the Mumbai khol market today, the price of kapasia khola was Rs 5 per tonne while the price of soya kholam was speaking at Rs 5 to Rs 5 per tonne. Singhal prices remained at Rs 6 while others remained quiet.

Meanwhile, prices of soft food in India were rising due to rising tariff value of imported oil. In the US, Chicago soybean futures overnight yielded 3 to 5 points of mud. However, the futures of soybeans stayed at 5 to 5 points a night. Against soybean futures were up 5 to 5 points a night. New York Cotton Futures Overnight was news of a 5-point lift. Marketmen were now expecting palmetto prices to open lower in Malaysia on Monday, with soybean prices rising in the US. Domestic soybean arrivals this afternoon reported nearly two million times this afternoon.

And the prices present there were Rs. 5 to Rs. 5 and the price of the plant delivery was from Rs. 1 to 2. The price of soyatel was Rs. Peanuts were on the Gondal side this morning and the arrival of Rajkot was around 3,000 times this morning and the present prices of peanuts were Rs 5 to Rs 6 per kg of groundnut.


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