Decline in various domestic and imported edible oils

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(Gujarat News Office), Mumbai, Ta. Monday, January 25, 2021

Prices of various domestic and imported edible oils declined in the Mumbai Oilseeds market today. New demand was slow. World market news was showing mixed weather though. In the Mumbai spot market, 10 kg of palm oil hawala resale was quoted at Rs 50 today and scattered trades of 40 to 100 tonnes were ready in this regard.

In the global market, palm oil futures in Malaysia fell by 9 points today, while palm product prices were પાંચ 5 softer in near delivery and પાંચ 5 higher in long-term delivery. Total palm oil exports from Malaysia declined in the first three days of January by about 3 to 4 per cent. Palm oil imports to China were on the decline. In South America, meanwhile, there was news that the weather was favorable for the rainy season.

There were also reports of a trucking strike in Argentina. In the US agricultural markets, soyoil prices were in the projection of 4 to 5 points plus in the projection this evening. Soybean and soymeal prices were also higher in the projection this evening.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quiet at Rs 150 today. While cottonseed oil fell by Rs 105 and mustard by Rs 150. The price of cingulum oil was Rs 15 and Rs 610 per 15 kg, respectively. While there was news that the price of cotton washed was reduced to Rs.

In the Mumbai market today, soyoil prices fell to Rs 1,015 for digam and Rs 105 to 1,050 for refined, while sunflower prices fell to Rs 150 and Rs 1,210 for refined. Crude palm oil CPO Kandla was down by Rs 305.

Meanwhile, in the futures market this evening, CPO futures were trading at Rs 30.50, down by Rs 19.50 and soyoil futures were down by Rs 15 to Rs 1,081. Castor February futures fell by Rs 5 to Rs 5 this evening. Mumbai spot castor price fell by Rs 5 to Rs 20 while Mumbai castor spot price fell by Rs 5 per 10 kg today.

In the Mumbai flour market, the price of a tonne of groundnut flour rose by Rs 1,000 today, while the price of cottonseed meal went up by Rs 70 and that of castor flour by Rs 100. On the other hand, soymeal prices fell by Rs 200 to Rs 2,000 today. Others, however, remained calm. Peanut prices were quoted at Rs 60 to Rs 1,210 per quintal. At Navi Mumbai port, soyoil prices were at Rs 1,150 for various deliveries and Rs 150 to Rs 1,200 for sunflower, while at Chennai, prices were Rs 150 to Rs 1,200 for sunflower.

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