1,200 tonnes trade for September delivery in palm oil

(By commerce representative), Mumbai, Ta. 27 August 2020, Thursday

In the Mumbai Oilseeds market today, the prices of various imported edible oils surged behind the world market, while the prices of domestic edible oils remained volatile. According to market sources, about 1,000 to 1,500 tonnes of palm oil was traded at Rs 5 to Rs 20 per 10 kg for September delivery today on increased demand for forward delivery. Palm oil futures in Malaysia traded up 50 points today, while palm product prices were quoted as high as ૫ 2.50 to ૦૦ 2.00. There was talk of increased demand from India and China.

Meanwhile, in the Mumbai spot market, the price of 10 kg of palm oil rose from Rs 5 to Rs 5 today, while crude palm oil (CPO) Kandla was quoted from Rs 20 to Rs 3. Meanwhile, CPO futures were quoted at Rs 6 and soyoil futures at Rs 4.50 this evening.

In the Mumbai market, soyoil digam was priced at Rs 3, while refined was quoted at Rs 3, while sunflower was up at Rs 3 and refined at Rs 4. Meanwhile, groundnut oil was quiet at Rs 1,50 and cottonseed oil at Rs 305. Producers reported that the price of cingulum oil was Rs 1,2,15 per kg, Rs 1,50 to Rs 1,50 and that of cotton washed Rs 50 to Rs 4.

In the Mumbai market, the price of mustard was quoted at Rs 1,050. Meanwhile, the spot price of castor oil stopped rising and fell by Rs 4 to Rs 4 today, while the present castor price fell by Rs 3 to Rs 2,150. In the futures market, castor September futures fell by Rs 5 to Rs 3,050 this evening.

In the Mumbai flour market, soymeal prices rose by Rs 200 per tonne and groundnuts by Rs 1,000 per tonne, while other flours remained calm. The evening was audible.