Singtel saw a rally behind the establishments

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(By commerce representative), Mumbai, Ta. Thursday, June 25, 2020

In the Mumbai oilseeds market, cingulum oil prices rose sharply today behind the manufacturing plants, while prices of various imported edible oils remained mild. The fall in global crude oil prices was also followed by a decline in global edible oil prices, market sources said. In the Mumbai spot market, the price of cingulum oil rose by Rs 20 to Rs 1,200 per 10 kg, while the price of cingulum oil was quoted at Rs 1,5 per kg and Rs 1,150 to Rs 4,150 per 15 kg.

Meanwhile, palm oil prices in the Mumbai market fell further by Rs 2 to Rs 20 to Rs 5 per 10 kg today, while crude palm oil (CPO) Kandla fell by Rs 21 to Rs 31. In the futures market, CPO July futures were quoted at Rs 6 and soyoil July futures at Rs 2.50 this evening, sources in the futures market said.

In the global market, palm oil futures in Malaysia fell by 30 points today, while palm product prices were at minus 2.50.

Total palm oil exports from Malaysia, however, were reported to have increased by about 3 to 4 per cent in the first three days of this month. In the Mumbai spot market, soyoil prices were quoted at Rs 70 for digam and Rs 30 for refined, while in the US Chicago market, soyoil futures fell by 3 points overnight, prompting indications that prices would fall by another 15 to 18 points in the projection this evening.

Meanwhile, reports from Delhi said that some organizations had received instructions from the central government to increase the duty on imports of edible oils and ban edible oils sold in loose form. In the Mumbai market today, the price of cottonseed oil was Rs 5 to Rs 20, while the spot price of Mumbai castor oil was quoted at Rs 21 to Rs 21 per 10 kg today.


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