New surge in prices of various imported edible oils

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(By commerce representative), Mumbai, Ta. 12 November 2020, Thursday

In the Mumbai oilseeds market, cingulum oil prices remained subdued today, while cottonseed oil prices rose on the back of manufacturing. Meanwhile, prices of imported palm oil, soyoil and sunflower oil also rose on the back of festive prices. World palm oil prices have risen to an eight-and-a-half-year high, while global soybean prices have risen to a four-and-a-half-year high.

Meanwhile, in the Mumbai spot market, palm oil traded at 150 to 200 tonnes in hawala resell today, while refineries' direct deliveries traded at Rs 4 for November and Rs 4 for December. Today, the total trade in palm oil was around 600 to 700 tonnes.

In Malaysia, meanwhile, palm oil futures rose 3 points today, while palm product prices rose another ૫ 6 to ૫ 2.50. There was a bullish mood as production and stocks declined.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quiet at Rs 1,50 today, while cottonseed oil was trading higher at Rs 1,05. Producers had quoted a higher price of Rs 6 to Rs 7 for washed cotton, while the price of cingulum oil was reported to have declined to Rs 1,200 to Rs 1,6 and Rs 1,050 to Rs 4,100 per 15 kg.

Meanwhile, in the Mumbai spot market, palm oil was quoted at Rs 8 to Rs 20 today, while crude palm oil (CPO) Kandla was quoted at Rs 200, as against CPO's November futures at Rs 4.5 this evening. .409 and soyoil November futures were up by Rs. 11.50 to Rs. 1,08, according to futures market sources.

Meanwhile, castor oil prices rose by Rs 5 in the Mumbai spot market today, while spot castor prices rose by Rs 3. Soybean futures were up 30 points, while soymeal futures were down 21 points and cotton futures were down 6 points.


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