The downturn in various imported edible oils stopped at home

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(By commerce representative), Mumbai, Ta. 25 September 2020, Friday

In the Mumbai oil and grease market, prices of various imported edible oils rose sharply today, while domestic edible oils remained firm. The hawala resale traded at around 400-50 tonnes today on lower demand in palm oil. World market news was also encouraging, with manufacturers reporting that prices of domestic edible oils, such as cingulum and cottonseed oil, have risen sharply.

Meanwhile, near-term palm oil futures in Malaysia rose 31 points today, with prices of palm products rising by ૭ 2.50 to ૦૦ 10.00. World palm oil exports from Malaysia are projected to grow by about 5 to 12 per cent in the first three days of September, according to world market analysts.

Demand from China also increased on the back of low headlines in Malaysia. However, the sharp fall in palm oil prices in Malaysia this week was the biggest weekly drop in the last three months, analysts said.

Meanwhile, palm oil prices rose by Rs 3 per 10 kg in the Mumbai spot market today, while crude palm oil (CPO) Kandla was quoted at Rs 20 to Rs 3. Meanwhile, the bullish circuit was implemented in the futures market today as CPO prices rebounded, which was followed by a bearish circuit on Thursday, sources in the futures market said.

In the futures market, CPO September prices rose by Rs 2.50 to Rs 5 this evening, while soyoil October prices rose by Rs 15 to Rs 305. However, soybean prices fell by Rs 4 to Rs 4,615 in October, sources said.

Meanwhile, in the Mumbai spot market today, the price of 10 kg of soyoil was Rs 30 for digam, Rs 315 for refined, Rs 1,150 for sunflower and Rs 1,150 for refined, Rs 1,050 for mustard, Rs 1,20 for cingulum oil and Rs 4 for cottonseed oil. Were. Producers, meanwhile, were quoted today as raising prices of cotton washed at Rs 215 to Rs 20, cingulum oil at Rs 1,50 to Rs 1,20 and 15 kg at Rs 1,50 to Rs 1,20.

Meanwhile, soybean futures fell 16 points in overnight trade in the US, as soymeal futures fell 3 points and soyoil futures fell 3 points, while cotton futures rose 31 points. Running directions were found. Meanwhile, according to world market news, world market experts were surprised to see about 20,000 tonnes of soybeans being bought from Uruguay in Brazil.

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