Peanut oil rejuvenation: advance in cottonseed oil

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(By commerce representative), Mumbai, Ta. 19 August 2020, Wednesday

In the Mumbai oilseeds market, the price of cingulum oil rose again today after the shock-absorbing stations, while the prices of various imported edible oils surged behind the world market. Prices have also gone up in the futures market along with the spot market, market sources said.

However, new demand in the Mumbai market was slow today and new trades were scattering today after palm oil traded at 500 tonnes on Tuesday, analysts said. In Malaysia, palm oil futures rose 19 points today, while palm product prices rose by ૫ 2.50 to ૦૦ 2.00.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 1,50 to Rs 1,20 today, while at manufacturing plants, prices rose by Rs 1,210 to Rs 1,20 and 15 kg at Rs 1,50. While the price of cotton washed increased from Rs. 5 to Rs. In the Mumbai market, cottonseed oil was quoted at Rs 6, soyoil digam at Rs 20 and refined at Rs 4.

While palm oil prices were rising from Rs 3 to Rs 4. Crude palm oil (CPO) Kandla was up by Rs 30, while futures traded higher by Rs 4 to Rs 5 this evening.

Meanwhile, in the Mumbai market, the price of sunflower was Rs 30 and refined Rs 7, while the price of mustard was Rs 1,050. Meanwhile, castor spot prices fell by Rs 5 to Rs 4 to Rs 5, while spot castor prices fell by Rs 15 to Rs 2,115. Castor September futures fell by Rs 15 to Rs 2,50 this evening. In the Mumbai flour market, the price of 1 tonne of cottonseed meal went up by Rs 200 today.

Meanwhile, global palm oil exports from Malaysia are expected to decline by about 15 to 18 per cent in the first 30 days of August, world market analysts said today. Meanwhile, indications were circulating that Indonesia was considering raising export taxes.

Meanwhile, cotton futures fell by 3 points, soybean meal by 21 points and soybean by 3 points in overnight trade in US agricultural markets.


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