Singtel booms behind Saurashtra: 1,000-tonne trade in Mumbai as demand for palm oil rises

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(By delegate) Mumbai, May 08, 2020, Friday

In the Mumbai oilseeds market, cingulum oil prices saw a significant rise behind Saurashtra today. According to market sources, palm oil also traded at around Rs 1,000 a tonne on lower demand. Meanwhile, world market news was also showing a rebound against the declining headlines. In Malaysia, palm oil futures rose 3 points today, while palm product prices rose by લર 8 to ૧૦ 10. There were also reports of palm oil exports from Malaysia growing by about 15 to 18 per cent.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 1,50 to Rs 1,20 per kg, while cottonseed oil was quoted at Rs 205, soyoil at Rs 30 to Rs 5 and refined at Rs 50 and palm oil at Rs 30. 8 and sunflower at Rs. 20 and refined at Rs. 20 and mustard at Rs.

Crude palm oil (CPO) Kandla was trading at Rs 710, while CPO prices were quoted at Rs 61 in the evening and soyoil futures at Rs 6.30 in the evening, sources in the futures market said.

Meanwhile, in Rajkot, cingulum oil prices rose by Rs 1.50 to Rs 1.3 and cottonseed oil by Rs 30 to Rs 4. Chicago soyoil futures in the US traded higher by 20 to 5 points in overnight trade in the US.

In overnight trade, soybean futures were up 110 points and cotton futures were up 3 points. Meanwhile, castor oil was trading at Rs 5 to Rs 7 in the Mumbai spot market today, while castor was at Rs 4,115.

In the Mumbai flour market, the price of groundnut was Rs 4,400 per tonne, cottonseed meal was Rs 2,500, sunflower meal was Rs 15,000 and soymeal was Rs 7,15 per tonne.

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