Gentle weather in Singtel: The rally in imported edible oils stopped

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Mumbai, Ta. 17 June 2020, Wednesday

In the Mumbai oilseeds market, cingulum oil prices remained soft behind the stations today, while prices of various imported edible oils, including palm oil, were on the rise.

After the recent rally in the spot and futures markets, the market was picking up today and new demand was slowing down, market sources said. World market news was showing mixed weather amid bilateral fluctuations.

Meanwhile, US exporters have reportedly sold more than 250,000 tonnes of soybeans to China. In Malaysia, palm oil futures fell five points today, as palm oil prices rose by ડો 2.50.

Meanwhile, in the Mumbai spot market, the price of cingulum oil fell by Rs 1,20 per 10 kg today, while the price of cottonseed was reported to be between Rs 1,200 and Rs 1,3 and that of cotton washed at Rs 5 to Rs 20 per 10 kg. In the Mumbai spot market today, palm oil was trading at Rs 70 and crude palm oil (CPO) Kandla was trading at Rs 715.

However, CPO prices in the futures market were Rs 6 in June evening and Rs 5 in July, while soyoil July futures were up by Rs 216.10 in the evening and castor July futures were up by Rs 20 in the evening to Rs 5, sources in the futures market said.

In the Mumbai spot market, cottonseed oil was trading at Rs 70, soyoil digam at Rs 3, refined at Rs 4, sunflower at Rs 20 and refined at Rs 5 and mustard at Rs 20. However, the spot price of Mumbai castor was down by Rs 4 to Rs 515 today, while the present castor was down by Rs 4. Thus castor spot and castor futures were seen to be facing each other today.

Meanwhile, in the Mumbai flour market, the price of 1 tonne of groundnut flour rose by Rs 200 to Rs 2,500 today, while the price of soymeal flour fell further by Rs 200 to Rs 30,50 within Rs 31,000. However, others remained silent. Meanwhile, in US agricultural markets, cotton futures rose 104 points in overnight trade, while soybean futures fell 30 points and soymeal futures fell five points. There was news that the price of soyoil was going to be in the range of 8 to 10 points minus in the projection this evening after the futures rose by 3 points overnight.


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