Shortage of refined palm oil in Mumbai: Prices rise to Rs 832

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(By commerce representative), Mumbai, Ta. 23 June 2020, Tuesday

Palm oil prices rose in the Mumbai Oilseeds market today, while other imported edible oils were hitting highs. However, the prices of domestic edible oils remained firm. Meanwhile, sources in the Mumbai market said that there is a severe shortage of refined palm oil in the market at present and there is a short supply in the delivery of goods by various refineries.

The situation has arisen after the central government imposed restrictions on the import of refined oil, as crude oil is imported, but not enough capacity has been created in Maharashtra to refine it, experts said.

Meanwhile, in the Mumbai spot market, the price of 10 kg of palm oil rose by Rs 30 to Rs 5 today, while crude palm oil (CPO) Kandla was quoted at Rs 4. Meanwhile, in the futures market, CPO's June futures were trading at Rs 41.10 in the evening, while July futures were trading at Rs 4.50.

On the other hand, soyoil's July futures fell by about Rs 5 to Rs 31.50 in the evening and castor's July futures rose by Rs 20 to Rs 4,610 in the evening, sources in the futures market said. Palm oil futures in Malaysia traded up 3 points today, while palm product prices rose by પાંચ 5.

In the Mumbai spot market today, the price of groundnut oil rose by Rs 1,20, cottonseed oil by Rs 5 to Rs 20, while soyoil by Rs 305 for digam, Rs 3 for refined, Rs 200 for sunflower, Rs 30 for refined and Rs 30 for mustard. .50 were. The prices of cingulum oil ranged from Rs 1,50 per kg, 15 kg to Rs 4,150 to Rs 4,150 per kg and cotton washed to Rs 200 to Rs 405 per kg.

Meanwhile, in the Mumbai spot market, castor oil rose by Rs 3 to Rs 415 to Rs 4 today, while spot castor rose by Rs 3 to Rs 4.5. In the Mumbai flour market, the price of 1 tonne of cottonseed meal fell by Rs 200 to Rs 2,000 today, while other flours were quiet.

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