Slow decline in prices of various domestic and imported edible oils

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(By commerce representative), Mumbai, Ta. 11 September 2020, Friday

The Mumbai Oil and Gas Market today witnessed a slowdown in prices of various domestic and imported edible oils. New demand was sparse and trades were scattered. World market news, however, showed two-way fluctuations and domestic futures were quoted higher in the evening.

In Malaysia, palm oil futures fell by 3 points today, while palm product prices were seen fluctuating bilaterally at 2.50. In the first 10 days of this month, total palm oil production in Malaysia increased by about 4 to 5 per cent, according to world market analysts.

Meanwhile, in the Mumbai spot market today, the price of 10 kg of groundnut oil fell by Rs 1,20, cottonseed oil by Rs 20, palm oil by Rs 3, soyoil digam by Rs 4, refined by Rs 5 to Rs 20 and sunflower by Rs 1,010. 1,050 and refined at Rs. 1,050 and mustard at Rs. 1,050. Producers today reported that the price of cingulum oil was between Rs 1,200 and Rs 1,50 and that of cotton washed was between Rs 30 and Rs 4.

Meanwhile, crude palm oil (CPO) Kandla was quoted at Rs 30 lower, while CPO's September futures rose by Rs 1 to Rs 2.50 in the evening and October soyoil October futures by Rs 2 to Rs 4, according to futures market sources. Said.

Meanwhile, in the Mumbai spot market, castor oil prices rose by Rs 3 to Rs 4 to Rs 5 today, while spot castor prices rose by Rs 10 to Rs 4,15. In the Mumbai flour market, the price of 1 tonne of cottonseed meal and groundnut meal fell by Rs 700 to Rs 1,000 today, while the price of castor meal was quoted at Rs 120 higher. However, the others were quiet.

Meanwhile, India saw a decline in imports of various edible oils in August, market sources said. Meanwhile, at home in Madhya Pradesh today, soybean income was 40,000 times and new income was 10,000 times and the price of new soybean was reported to be between Rs 2,500 and Rs 2,500.

Meanwhile, soybean futures were up 3 points and cotton futures were up 21 points in US overnight trade, while soyoil and soymeal futures were on a downward trend, but soybean oil futures were up 12 to 12 points this evening.

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