Singtel's bullish break

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(By commerce representative), Mumbai, Ta. 27 October 2020, Tuesday

In the Mumbai oilseeds market, the rise in cingulum oil prices saw a break today, while cottonseed oil and mustard also saw a slowdown. Market sources said caution was being exercised to follow the rise in imported palm oil and soyoil prices.

News of manufacturing centers as well as world markets were also showing a slowdown today, as new demand in the Mumbai spot market, especially imported palm oil, remained sluggish. Meanwhile, market sources said that after the recent massive purchase of cingulum oil from India by China, Chinese importers are now setting the stage for large-scale purchase of castor from India, which has led to a spike in castor and castor prices.

Meanwhile, in the Mumbai spot market, castor oil prices rose by Rs 2 to Rs 205 to Rs 5 per 10 kg today, while spot castor prices jumped from Rs 4,610 to Rs 4.5, while in the futures market, November castor futures traded at Rs. Futures market sources said that the price was rising by Rs 4 to Rs 6,615 in the evening.

Meanwhile, sources in The Solvent Extractors Association said that it was necessary to promote the export of castor and other value-added products from castor instead of castor from India.

Meanwhile, near-term palm oil futures in Malaysia rose 9 to 8 points today, while long-term futures fell 8 to 10 points. While there was news of a rise in the price of palm products by 2.50 today.

In the Mumbai spot market today, imported palm oil was quoted at Rs 5 per 10 kg, while crude palm oil (CPO) Kandla was quoted at Rs 5, while CPO's October futures were quoted at Rs 8.5 per kg. Soyoil's November futures were down by Rs 5 to Rs 2.50.

Meanwhile, in the Mumbai spot market, cingulum oil traded lower by Rs 1,20 per 10 kg today, while cottonseed oil was trading at Rs 1,000 per kg. Meanwhile, the prices of cingulum oil fell from Rs 1,8 to Rs 1,200 per kg and the price of 15 kg was Rs 2,500 to Rs 3,50 per kg, while the prices of cotton washed were quoted at Rs 20 to Rs 5 per kg. .

In the Mumbai market today, the spot price of soyoil was Rs 5 for digam and Rs 3 for refined, while the price of mustard was Rs 1,150. Sunflower prices rose by Rs 10 to Rs 1,150 and refined by Rs 1,150.

Meanwhile, cottonseed meal fell by Rs 200 per tonne in the Mumbai flour market today, while castor meal was quoted at Rs 150 and soymeal at Rs 200 higher, while other flours were quiet. In Madhya Pradesh, meanwhile, soybean revenue was about 20,000 times higher today, with prices hovering between Rs 2,000 and Rs 4,500.


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