Ultimately reactionary decline in various imported edible oils

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(By commerce representative), Mumbai, Ta. 26 June 2020, Friday

In the Mumbai Oilseeds market, prices of various imported edible oils remained soft on the back of palm oil today. On the other hand, the prices of domestic edible oils were rising and sluggish. The new demand was winged. According to market sources, short supply in palm oil is now likely to ease and palm oil prices in the Mumbai market are likely to remain bearish. Meanwhile, palm oil futures in Malaysia fell by 3 points in the global market today, while there was news of a ૧૦ 10 fall in the price of palm products.

Meanwhile, palm oil prices fell by Rs 20 per 10 kg in the Mumbai spot market today, while crude palm oil (CPO) Kandla was quoted at Rs 30. In the futures market, the CPO's July futures were trading at Rs 4 in the evening after hitting a high of Rs 4, while soyoil's July futures were trading at a high of Rs 3.30 in the evening and fell to Rs 316.50, sources in the futures market said. Soyoil futures in the US Chicago market fell 11 points overnight, showing a slow recovery in the projection this evening.

Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil is Rs 1,50 to Rs 1,200, cottonseed oil Rs 5 to Rs 20, soyoil digam Rs 30 and refined Rs 30, sunflower Rs 4 and refined Rs 20 And Rs 50 of mustard was being bid. Producers today reported that the price of cingulum oil was Rs 1,50 to Rs 1,2, 15 kg was Rs 2,150 to Rs 3,150 and cotton washed was Rs 70. Meanwhile, castor oil prices in the Mumbai spot market today rose by Rs 3 to Rs 20 to Rs 30, while spot castor rose from Rs 3,05 to Rs 4,100.

Analysts said prices remained firm in the wake of fresh export inquiries in the market. In the Mumbai flour market, the price of 1 tonne of soymeal fell by Rs 200 to Rs 30.50 today, while other flour was quiet. Meanwhile, overseas news came that the growth rate of palm oil exports from Malaysia had slowed significantly in the first 20 days of June after a significant increase in the period from June 30 to June 4.

Meanwhile, despite China's insistence, there were rumors that Brazilian exporters refused to ship export shipments of soybeans after Brazil tested the corona. Meanwhile, soybean futures fell 15 points and soymeal futures fell 19 points in US overnight trade, while cotton futures rose 15 points.

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