Futures of imported edible oils rise: Dull weather in Singtel
(Gujarat News Office), Mumbai, Ta. 14 December 2020, Monday
In the Mumbai oilseeds market, prices of various domestic and imported edible oils remained sluggish today after two-way narrow fluctuations. World market news, however, showed a rebound, but new domestic demand has been slow, market sources said. In the Mumbai spot market today, imported palm oil was traded at Rs 90 to Rs 100 per 10 kg at hawala resell.
Meanwhile, palm oil futures in Malaysia rose 3 points today, while palm product prices rose by ૨ 2.50 to ૠ2.50. World market experts said falling prices were rising in Malaysia.
Declining production of crude palm oil (CPO) in Malaysia also led to indications that imports of CPO from Malaysia had increased from Indonesia. Meanwhile, exports of sunflower seeds from Russia rose 5 per cent, setting a new 20-year record.
Meanwhile, the domestic government has started considering a significant change in the import policy of edible oils in India and the eyes of market players were now on Delhi.
Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quiet at Rs 1,20 today, while cottonseed oil was trading at Rs 1,050 amid a slowdown. Meanwhile, the prices of cingulum oil rose sharply to Rs 1,215 to Rs 1,2 per kg and Rs 15,110 to Rs 4,150 per 15 kg, while the price of washed cotton rose again to Rs 1,000 to Rs 1,000. There was news of 1,008 deaths.
In the Mumbai spot market, imported palm oil prices were quiet at Rs 8 today, while crude palm oil (CPO) Kandla was quoted at Rs 205.
In the futures market, CPO futures were up by Rs 2.50 to Rs 318.50 this evening, while soyoil futures were up by Rs 1.50 to Rs 1,09.50. In the Mumbai spot market, however, soybean oil prices fell from Rs 1,05 to Rs 1,050 for refined digits and Rs 1,08 for refined, while sunflower prices rose to Rs 1,150 and refined to Rs 1,215. Mustard prices were quiet at Rs 1,150.
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