High prices in various domestic as well as imported edible oils

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(Gujarat News Office), Mumbai, Ta. 07 January 2021, Thursday

The Mumbai Oilseeds market today witnessed a sharp decline in prices of various domestic and imported edible oils. New demand was waning at the top. Manufacturing establishments and world market news were also showing softness with rising prices. The futures market also witnessed a downward trend behind the domestic spot market today.

In the world market, palm oil futures in Malaysia fell 30 to 5 points today while there was news of a fall in the price of palm products by ૫ 5 to ૫ 15. U.S. agricultural markets, however, rebounded overnight. But this evening there were indications that prices had come down again in the projection. In the Mumbai spot market, wings were traded in hawala resell in imported palm oil today. While there were no other special trades.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil fell by Rs 1,310 and cottonseed oil by Rs 115, while the prices of cotton washed cotton fell by Rs 1,103 and cingulum oil from Rs 15 to Rs 1,200 and 15 kg of cottonseed oil from Rs 510 to Rs 20. . Peanut prices ranged from Rs 30 to Rs 1,115 per quintal. In the Mumbai market, however, the price of mustard rose to Rs 1,200.

In the Mumbai market today, imported palm oil fell sharply to Rs 1,100 and crude palm oil CPO Kandla was trading at Rs 1,000. Meanwhile, CPO prices fell by Rs 4 and soyoil to Rs 115 in the futures market this evening, sources in the futures market said. Soybean and mustard seed futures also showed signs of decline.

In the Mumbai spot market today, soyoil prices fell to Rs 115 for digam and Rs 1,200 for refined, while sunflower prices fell to Rs 1,210 and Rs 150 for refined.

In the US agricultural markets, soybean prices rose by 12 points, soymeal prices by 3 points and soyoil prices by 3 points in the overnight trade, while cotton prices fell by 3 points and soybean oil prices were projected to be in the range of 20-21 points in the projection this evening. In addition, there were indications that soybean and soymeal prices had softened in today's projection.

In the Mumbai spot market, castor oil prices rose by Rs 5 to Rs 15 today, while in the futures market, January castor futures fell by Rs 2 to Rs 305 this evening. In the Mumbai flour market, the price of soymeal fell by Rs 200 per tonne to below Rs 2,000 today, while other flours were quiet. Edible oil prices in India are likely to remain high till June, according to sources in the Solvent Extractors Association.

Meanwhile, soybean revenue in Madhya Pradesh today was about 1 lakh 50 thousand times and All India rice was about 2 lakh 50 thousand times. Prices of various deliveries at Navi Mumbai port were Rs 150 and that of sunflower were Rs 150 to Rs 1,410 while at Mundra-Hazira the prices of palm oil were Rs 1,112 to Rs 1,150, of sunflower Rs 150 and Rs 12 and of Rs 13.


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