Advances in Sunflower Oil

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(Gujarat News Office), Mumbai, Ta. 29 December 2020, Tuesday

In the Mumbai oilseeds market, there was fresh demand today and scattered trades in imported palm oil in hawala resale. In the spot and futures markets, prices of various domestic and imported edible oils were seen fluctuating narrowly today.

At the time of writing, world market players were watching a meeting between government and labor representatives in Argentina to discuss a solution to the ongoing labor strike in the agricultural and export sectors.

The meeting saw a drop in prices in the US agricultural markets amid hopes of a settlement. In the US agricultural markets, soybean prices fell by 3 points in the overtime trade, while soyoil prices fell by 12 points and soymeal prices by 14 points. However, cotton prices rose by 12 points.

Meanwhile, soyoil prices were projected to soften by 15 to 18 points this evening. Palm oil futures in Malaysia, however, rose by seven points to ૨ 2.50 to ત્યાં 2.50.

World palm oil exports from Malaysia rose sharply in December, breaking a six-month record, world market analysts said. Exports from Malaysia to India, Europe and Africa have recently increased while exports to China have declined, the world market was discussing today.

Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was Rs 1,200, cottonseed oil was Rs 1,150 and mustard was Rs 1,210, while the price of cingulum oil was Rs 120, 15 kg of cottonseed oil was Rs 4,150 to Rs 3,150 and cotton washed was Rs 105 to Rs 1,050. .

In the Mumbai spot market today, imported palm oil was quoted at Rs 115 and crude palm oil at CPO Kandla at Rs 20, while in the evening, soyoil futures were trading at around Rs 115 and CPO futures at around Rs 5 amid a slump in futures markets, sources said. Palm oil prices in the world market remained soft till noon today and then rose again in the evening.

Meanwhile, in the Mumbai spot market today, the price of sunflower rose by Rs 120 per 10 kg and refined by Rs 1,200 to Rs 1,305. Soyoil prices were at Rs 1,150 for digam and Rs 113 for refined. Mumbai spot castor oil prices fell by Rs 2 today while spot castor oil prices rose by Rs 10.

In the Mumbai flour market, the price of soymeal per tonne fell further by Rs 200 to Rs 400 today while other flours were quiet. Meanwhile, soybean revenue in Madhya Pradesh today is about 1 lakh 3 thousand times and All India revenue is about 3 lakh 50 thousand times, market sources said.

At Mundra-Hazira till January 15, palm oil was priced at Rs 1,050 to Rs 1,050, soyoil at Rs 1,150 to Rs 1,150 and sunflower at Rs 150 to Rs 150, sources said. Peanut prices ranged from Rs 200 to Rs 1,100 per quintal.

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