Retreat to imported edible oils from high head

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(By commerce representative), Mumbai, Ta. 21 September 2020, Monday

In the Mumbai oilseeds market, prices of various imported edible oils were heading lower today. New demand was on the rise and world market news was also showing a sell-off. However, domestic cottonseed oil, especially cottonseed oil, rallied in the Mumbai market today, while cingulum oil prices remained subdued.

There was news of increase in groundnut income in some yards of Saurashtra. In Malaysia, meanwhile, palm oil futures tumbled 3 points from a high today, as palm oil prices fell to ૨ 16.50 to ૭ 17.50.

Meanwhile, palm oil prices fell by Rs 20 to Rs 5 per 10 kg in the Mumbai spot market today. Meanwhile, in the futures market, CPO September prices fell below Rs 11.50 a barrel to Rs 200 this evening, while soyoil October prices fell by Rs 4.50 a barrel to Rs 61 a tonne, sources in the futures market said.

Meanwhile, in the Mumbai spot market, the price of cingulum oil was Rs 1,200 per 10 kg, while cottonseed oil was quoted at Rs 4 more. However, soyoil digam prices fell by Rs 200 to Rs 305, refined by Rs 4, sunflower by Rs 1,210 and refined by Rs 1,3.

Meanwhile, castor oil prices in the Mumbai market today rose by Rs 3 to Rs 5 to Rs 6, while spot castor oil prices rose by Rs 20 to Rs 4,215. In the castor futures market, there were indications that the October price had risen by Rs 4 to Rs 4,615 this evening.


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