Farewell to the year 2020 with the rise in domestic and imported edible oils

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(Gujarat News Office), Mumbai, Ta. 31 December 2020, Thursday

The Mumbai Oil and Seed Market witnessed a bullish trend in the spot and futures market today on the last day of the year 2020. The prices of various domestic and imported edible oils were present. World market news was also showing a rebound. In the Mumbai market, palm oil was traded at around Rs 1,050 per 10 kg for January delivery today, while soyoil traded at around Rs 1,250 per 200 tonnes for January delivery.

Palm oil, meanwhile, was rumored to be priced between Rs 105 and Rs 105 for February delivery. In Malaysia, palm oil futures rose 19 points today, but palm oil prices fell by જોકે 5.

In the US agricultural markets, soybean prices rose by 3 points, soyoil by 12 points, soyoil by 4 points and cotton by 4 points in the overnight trade. Meanwhile, the government was watching the announcement of the tariff value of imported edible oils at the time of writing.

Market experts were pointing out the possibility of such a tariff increase at the time of writing. Meanwhile, total palm oil exports from Malaysia increased by about 15 to 20 per cent in December, according to world market analysts.

In the Mumbai spot market, the price of imported palm oil rose by 10 kg to Rs 105 and crude palm oil CPO Kandla by Rs 5 today. In the futures market, CPO futures rose by Rs 2.50 this evening to Rs 4 and soyoil futures by Rs 19.50 to Rs 115. In the Mumbai spot market, soyoil prices rose to Rs 115 for digam and Rs 1,150 for refined, while sunflower rose to Rs 150 and refined for Rs 1,210.

Mustard was up by Rs 1,210, while cingulum oil was up by Rs 1,200 and cottonseed oil was up by Rs 115. Producers today reported a rise in the price of cotton washed at Rs 1,050, while the price of cingulum oil was Rs 150 and 15 kg at Rs 4,150. Peanuts were priced at Rs 800 to Rs 1,100 per bushel. Soybean revenue in Madhya Pradesh today was about 30,000 times and there were indications that the spot price was Rs 2,100 to Rs 200.

At the Navi Mumbai port, the prices of imported sunflower were quoted at Rs 1,310 to Rs 120 for various deliveries and Rs 1,150 for soyoil digam. At Mundra-Hazira, there was talk of palm oil at Rs 1,050 to Rs 1,050, soyoil at Rs 1,150 to Rs 1,205 and sunflower at Rs 15 to Rs 150.

Meanwhile, castor oil prices rose by Rs 2 per 10 kg in the Mumbai spot market today, while spot castor prices rose by Rs 20 per kg. On the other hand, in the futures market this evening, the January futures of castor was trading at Rs 20, up by Rs 15. In the Mumbai flour market, the prices of cottonseed meal went up by Rs 200, soymeal meal by Rs 200 and castor meal by Rs 30 per tonne while other shoals were quiet.

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