The forward price of palm oil jumped by Rs 1,000

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(Gujarat News Office), Mumbai, Ta. 15 December 2020, Tuesday

The Mumbai Oilseeds market today witnessed a rise in prices of various imported edible oils, led by palm oil, against which cottonseed oil remained firm while groundnut oil remained subdued. Meanwhile, imports of imported palm oil saw significant demand for forward delivery in January, with a total trade of about 3,000 to 4,500 tonnes at Rs 1,005 to Rs 1,010 per 10 kg, taking into account the wide volume on Monday evening and Tuesday, market sources said. .

Castor spot and futures prices as well as castor oil prices fell. However, spot palm oil prices were quoted at Rs 6 to Rs 5 today, but spot delivery trades were flat, while in January delivery, the price jumped to Rs 1,000.

In Malaysia, however, palm oil futures fell 14 points, while palm product prices rose by ૨ 2.50. Total palm oil exports from Malaysia increased by about 8 to 10 per cent in the first 15 days of December, according to global experts. There was also talk in the world market that Indonesia would increase the levy on palm oil.

In the Mumbai spot market, cingulum oil was quoted at Rs 1,50 and cottonseed oil at Rs 1,05, while soyoil digam was quoted at Rs 1,050 to Rs 1,05, refined at Rs 1,05 and sunflower at Rs 1,05. 120 and Rs. 1,50 for refined. Mustard, however, fell by Rs 10 to Rs 1,150.

Meanwhile, crude palm oil (CPO) Kandla was up by Rs 313, while CPO futures rose by Rs 6.10 to Rs 41 this evening and soyoil futures by Rs 19.50 to Rs 1,031 this evening. Futures market sources said. The prices of cingulum oil ranged from Rs 1,200 to Rs 1,50, 15 kg from Rs 3,110 to Rs 2,150 and cotton washed from Rs 1,000 to Rs 1,005.

In the Mumbai spot market, however, castor oil prices fell by Rs 5 per 10 kg today, while spot castor prices fell by Rs 30, as against the January price of castor oil in the futures market, which fell by Rs 15 to Rs 20 in the evening. Total imports of vegetable oils in the country fell by about 5 per cent in November, according to sources in the Solvent Extractors Association.

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