Peanut oil declines: Palm oil rises in world markets as crude rises

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(By commerce representative), Mumbai, Ta. 09 November 2020, Monday

In the Mumbai oil and grease market, cingulum oil prices fell below the manufacturing level today, while imported edible oils, palm oil and soyoil prices continued to strengthen. Palm oil prices rose in Malaysia today on the back of rising crude oil prices in the global market.

Meanwhile, in the Mumbai spot market, about 150 tonnes of palm oil was traded at Rs 20 to Rs 5 in hawala resell today, while refineries were quoted at Rs 30 in direct delivery. In Malaysia, meanwhile, palm oil futures were up 3 points, with prices of palm products rising by ૫ 2.50 to ૦૦ 2.00.

However, exports from Malaysia have declined and in the first 10 days of November, such exports are likely to fall by about 15 to 18 per cent, ITS sources said.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 1,20 today, while the manufacturing units reported a fall of Rs 1,600 to Rs 1,2 and 15 kg of cingulum at Rs 3,050 to Rs 4,050. . The prices of cotton washed were quoted at Rs 8 to Rs 20 today while cottonseed oil was quoted at Rs 1,000 in the Mumbai market.

Meanwhile, palm oil prices rose further to Rs 3 in the Mumbai spot market today, while crude palm oil (CPO) Kandla rose by Rs 3. Meanwhile, in the futures market, CPO's November futures were trading at Rs 4.50 in the evening trade at Rs 4.50, while soyoil's November futures, however, declined by Rs 3 to Rs 305, sources in the futures market said.

Meanwhile, in the Mumbai spot market, soyoil prices were quoted at Rs 70 for digam and Rs 1,000 for refined, while sunflower prices were quiet at Rs 1,120, refined at Rs 1,120 and mustard at Rs 1,20. In Madhya Pradesh, meanwhile, soybean revenue was around 450,000 times today, with market prices hovering between Rs 2,50 and Rs 2,50. Meanwhile, castor oil prices in Mumbai spot market were showing a slow recovery after absorbing the shock, while spot castor prices were also trading slightly higher on the back of declining headlines.

Meanwhile, prices of 1 tonne of cottonseed meal and sunflower meal in the Mumbai flour market rose by Rs 200 to Rs 300, while soymeal flour remained soft at Rs 200. On the other hand, the price of castor meal was quoted as high as Rs 30 and other meal prices were quiet. Meanwhile, soybean futures prices in the US agricultural markets were showing a slowdown in the projection this evening, while soymeal, soybean and cotton futures prices were positive.


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