Indian importers resume banning of palm oil from Malaysia

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Mumbai, Ta. November 14, 2019, Thursday

Singtel and cottonseed oil prices remained soft today in the Mumbai oil-seeds market. While the price of palmetal was present, the hawala resale for 5 kg was Rs. Havanala Resale had scattered business between Rs 1 and 2 during the day. While the direct delivery trades of various refineries were traded in November and December for delivery, the total was around 5 to 8 tonnes.

Meanwhile, Singtel prices in the Mumbai market remained sluggish at Rs 1. On the Rajkot side, prices fell between Rs 1 to 3 and Rs 5 to Rs 5 per kg. Cotton washed prices were down from Rs. While the price of cottonseed in Mumbai market was down by Rs. Copper prices were quiet at a headline of Rs 5 per kg. Sunflower prices were hiked by Rs 5 and refined by Rs 5-6. Mustard prices were at Rs 5 and Soyatl was Rs 6 for digam and Rs 5 for Rifa.

Market players were watching the tariff value used as a benchmark to calculate the import duty of various edible oils imported into the country. The possibility that the government will curtail such tariff value was being discussed in the market today. Meanwhile, the price of Diwali was hiked by Rs 5 per kg today while the price of castor in Mumbai was Rs.

In the Mumbai khol market, tonnes of tonnage remained at Rs 5 per kg of cottonseed, while the other ones were quiet. In the castor futures market this evening, December futures prices were down by Rs 5. According to world market news, India's importers were vowing to resume importing Palmetal from Malaysia. Such import trades were reported for December shipment for around 3,000 tonnes.

There were reports that Malaysian exporters were offering a discount of about $ 5 a ton against Indonesian prices. Earlier, India's importers had stopped imports from Malaysia, displaying an anti-India attitude to the Prime Minister of Kashmir over the Kashmir question. Which has now resumed, the informants said. Meanwhile, soybean arrivals in the home country today amounted to about 5 lakh 7 thousand times nationwide.


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