Decline in palm oil and soyoil prices in the world market

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(By commerce representative), Mumbai, Ta. 19 October 2020, Monday

In the Mumbai oilseeds market, the rise in cingulum oil prices today saw a rebound, with imported edible oils falling behind the world market, while soyoil prices were quoted higher. In the Mumbai spot market, there was an overall new demand today, with 500-600 tonnes for November delivery traded at Rs 5 to Rs 20 per 10 kg for the last weekend, market sources said.

In Malaysia, meanwhile, palm oil futures fell sharply by 3 points, the biggest daily decline in the past three weeks, as well as palm product prices fell by à«« 8 to આજે 10.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil fell to Rs 1,20 today, while cottonseed oil was quoted at Rs 6 amid a slowdown. Meanwhile, prices of cingulum oil fell by Rs 1,200 to Rs 4,050 per 15 kg and cottonseed oil by Rs 5 to Rs 205 per kg.

In the Mumbai spot market, imported palm oil was down by Rs 30 to Rs 5 today, while crude palm oil (CPO) Kandla was down by Rs 5, while CPO's October futures were down by Rs 5 to Rs 4 this evening. Meanwhile, soyoil November futures rose by Rs 5 to Rs 6.30 in the evening, according to futures market sources. Sources added that soybean prices remained stable in the country, especially in Maharashtra, as unseasonal rains affected the soybean crop.

Meanwhile, in the Mumbai spot market today, soyoil prices were quoted at Rs 200 to Rs 305 for digam and Rs 5 to Rs 8 for refined, while sunflower was priced at Rs 1,150 and refined at Rs 1,150 and mustard at Rs 1,150. , Remained silent at the head of 070. Meanwhile, castor oil prices rose by Rs 5 in the Mumbai spot market today, while spot castor prices rose by Rs 10.

Meanwhile, cottonseed oil prices rose by Rs 200 per tonne in the Mumbai flour market today, while castor flour prices also saw a slow recovery, while other flours were quiet. Meanwhile, the total exports of various flours from India have increased marginally in the last six months, but exports of Rayda flour in particular have increased significantly during the period, sources in the Solvent Extractors Association said.

Meanwhile, soybean futures prices in the US agricultural markets this evening were projected to be in the range of minus 6 to 7 points in the projection, while soybean oil prices were also reported in the Chinese agricultural markets during the day. Global soybean oil prices have come under pressure in Brazil as the weather has improved and soybean crop re-emerges.

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