Peanut oil and cottonseed oil prices fell sharply

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(By commerce representative), Mumbai, Ta. Thursday, October 28, 2020

The Mumbai Oilseeds market witnessed a sharp fall in prices today amid rising turnaround behind Singtel and cottonseed oil production centers, while imported edible oils also fell behind the global market as well as in futures markets, market sources said. New demand also slowed in a declining market due to high prices and trades were scattered. Traders have also declined due to the end of the month and experts were expecting demand to pick up in the first week of November.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 1,200 today, while the price of cottonseed oil was quoted at Rs 30 per kg, against which the manufacturing units reduced the price of cingulum oil from Rs 1,200 to Rs 1,50 and 15 kg. 2,100 to Rs. 2,150 were quoted. There were indications that the prices of cotton washed were quoted at Rs 20 to Rs 5 by Gabdi centers and the prices of November delivery were quoted at Rs 3 to Rs 4.

Meanwhile, in the Mumbai spot market, imported palm oil was quoted at Rs 8 today, while CPO Kandla was quoted at Rs 20, as against CPO's November futures in the futures market this evening, which fell by Rs 2.50 to Rs 216.50, while soyoil November futures fell by Rs 2.50 to Rs 5, sources in the futures market said. Meanwhile, in the Mumbai spot market, soyoil was quoted at Rs 30 for refined and Rs 5 for digam, while mustard was quoted at Rs 1,150, sunflower at Rs 1,120 and refined at Rs 1,150.

Meanwhile, in the Mumbai spot market, castor oil prices rose by Rs 5 per 10 kg today, while spot castor prices rose by Rs 20 more, while castor November futures, however, fell by Rs 15 to Rs 4.5 in the evening. Meanwhile, prices of 1 tonne of cottonseed meal fell by Rs 200 and soymeal meal by Rs 200 in Mumbai flour market today, while castor meal prices also declined, while other flours remained calm. In Madhya Pradesh, meanwhile, soybean revenue was around 1,4,000 times higher today, with prices hovering between Rs 2,500 and Rs 2,500.

Meanwhile, there was a rumor in the market today that mustard would be resold by NAFED.


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