Castor and castor spot and forward decline in the futures market

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- The market was welcomed by the central government deregulating the edible oil trade

(By Representative), Mumbai, May 15, 2020, Friday

In the Mumbai Oilseeds market, prices of various imported edible oils were higher today, led by palm oil, while cingulum oil prices remained sluggish. World market news was encouraging. Palm oil futures in Malaysia rose 3 points today. Total palm oil exports from Malaysia were expected to increase by about 3 to 4 per cent between May 1 and 12. Meanwhile, there was news that Malaysia had decided to import 1 lakh tonnes of rice from India to mend strained relations with India. The decision by the Indian government to deregulate the edible oil trade today was welcomed in the market.

In the Mumbai spot market today, the price of 10 kg of palm oil was quoted at Rs 715. There were sporadic trades of ready-made deliveries at Rs 715 to Rs 718, while for June-10 deliveries, there were 200 to 50 tonnes at Rs 210, market sources said. Meanwhile, crude palm oil (CPO) Kandla was up by Rs 5, while CPO was up by Rs 311.50 in the evening trade and soyoil futures were up by Rs 2.50. Meanwhile, in the Mumbai spot market, peanut oil is priced at Rs 1,50 to Rs 1,50, cottonseed oil at Rs 5, soyoil digam at Rs 20 and refined at Rs 5, sunflower at Rs 5 and refined at Rs 20 to Rs 5 and mustard at Rs. .50 were. Peanut oil prices ranged from Rs 1.2 to Rs 1.2 per quintal and for cotton washed at Rs 20 per quintal.

Meanwhile, in the Mumbai spot market today, castor oil prices fell further by Rs 2 per 10 kg to Rs 305 to Rs 5, while spot castor was priced at Rs 8,50 with Rs 2,5. New export demand was lower than expected. Castor futures fell by Rs 20 to Rs 5 in June and were trading at Rs 2,50 to Rs 2,8 in the evening. In the Mumbai flour market, the price of 1 tonne of sunflower flour rose by Rs 200 to Rs 30,000 today, while other flours remained steady. Meanwhile, in the US, Chicago soyoil futures were up 17 points overnight, after which prices were up 12 to 12 points higher in the projection this evening. Experts said that the rise in crude oil prices in the world market has led to a sharp rise in global prices of edible oils.

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