Peanut oil and imported palm oil

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(Gujarat News Office), Mumbai, Ta. 30 December 2020, Wednesday

In the Mumbai oilseeds market, cingulum oil prices remained soft behind the stations today while prices of various imported edible oils were quoted higher. New demand was slow in the Mumbai market today and scattered trades at imported palm oil for hawala-resale at Rs 105 per 10 kg for delivery from January 1 to 10. The new trades of direct delivery refineries were wings. World market news showed mixed moves.

In Argentina, meanwhile, there have been indications that workers in the oil industry and the market have been on strike for the past 20 to 21 days. However, market experts said today that soybean oil shortages are likely to continue in India for a long time to come as crushing will begin and oil will be produced and overseas shipments of oil are likely to take place.

In the global market, palm oil futures rose by 3 points in Malaysia today as palm product prices rose by à«« 2.50 to à«« 2.50. According to world market analysts, prices in Malaysia are on the rise due to declining production and rising demand for exports.

Meanwhile, soybean oil prices rose by 3 points in overnight trade in US agricultural markets, while soybean prices rose by 202 points and soymeal prices by 114 points. However, there were indications that soybean oil futures were in the range of 5 to 20 points in the projection this evening.

In the Mumbai spot market today, the price of 10 kg of cingulum oil was Rs 150 to Rs 1,200, cottonseed oil was Rs 1,150 and mustard was Rs 1,210, while the price of cingulum oil was Rs 150, 15 kg was Rs 2140 and cotton washed was Rs 1,050 to 103. In the Mumbai spot market, imported palm oil was trading at Rs 1,050 and crude palm oil CPO Kandla was trading at Rs 8, while CPO futures were trading at Rs 4 and soyoil futures at Rs 1,021.50 this evening.

In the Mumbai spot market today, soyoil prices were Rs 1,150 for digam and refined, Rs 15 for sunflower and Rs 1,200 for refined. Mumbai spot castor oil prices rose by Rs 2 and spot castor prices by Rs 20 today, while castor January futures prices were quoted at Rs 5 this evening.

In the Mumbai flour market, soymeal prices rose by Rs 100 per tonne today while other flours were quiet.

Meanwhile, the prices of castor were hovering between Rs 30 and Rs 5 per quintal while the prices of groundnut were hovering between Rs 200 and Rs 1,100 per quintal. There was talk of cotton prices ranging from Rs 1,050 to Rs 115 per quintal. Soybean income was about 1 lakh 3 thousand times in Madhya Pradesh today and All India income was about 3 lakh 50 thousand times. At the Navi Mumbai port, the price of imported sunflower was Rs 150 and soyoil Rs 1,200 for various deliveries.


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