Prices of various imported edible oils rose behind the world market

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Mumbai, 29 May 2020, Friday

In the Mumbai Oilseeds market today, prices of various imported edible oils, led by palm oil, rose again in the spot and futures markets, while domestic edible oils, including cingulum oil, remained subdued. Overall new demand was sparse and trades were scattered. Meanwhile, world market news got encouraging. Today, there was news of rising edible oil prices globally due to rising demand for biodiesel in the global market.

Meanwhile, in the Mumbai spot market, the price of 10 kg of palm oil rose by Rs 5 to Rs 6 today, while the price of crude palm oil Kandla was quoted at Rs 4. In the futures market, CPO June prices rose to Rs 6.50 in the evening and soyoil June prices rose to Rs 3.50, while castor futures fell by Rs 15 to Rs 4.5 in the evening, sources in the futures market said.

In the Mumbai spot market today, groundnut oil was priced at Rs 1,20, cottonseed oil at Rs 715, soyoil digam at Rs 20 and refined at Rs 8, sunflower at Rs 20 and refined at Rs 910 and mustard at Rs 610.

Meanwhile, in the Mumbai market, castor oil rose by Rs 5 to Rs 21 per 10 kg and spot castor by Rs 10 to Rs 4.5 per 10 kg today. In the Mumbai flour market, prices of various flours were fluctuating narrowly today. Meanwhile, palm oil futures in Malaysia rose by 3 points today, while palm product prices rose by ૫ 5 to ૫ 2.50. Soyoil futures in the US Chicago market fell 21 points overnight, after which the price was in the projection of 4 points plus this evening.

Meanwhile, cotton futures were down 3 points in overnight trade, while soybean futures were down 19 points. On the other hand, soymeal futures were 9 points higher. At home, the prices of cingulum oil ranged from Rs 1,200 to Rs 1,3, 15 kg from Rs 3,050 to Rs 4,100 and cotton washed from Rs 5 to Rs 20.

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