Imported palm oil, soyoil prices rose again

(Gujarat News Office), Mumbai, Ta. 27 January 2021, Wednesday

Cottonseed oil stocks rose again today at the Mumbai Oilseeds Market. Prices of various imported edible oils were seen bouncing behind the world market as well as in the futures market. As the world market grows, so does the cost of domestic imports. About 500 tonnes of imported palm oil traded at Rs 1,000 to Rs 1,050 per 10 kg in the Mumbai market today.

While prices were being quoted at Rs 105 for February 1-10. The futures market was also bullish in the evening. In the Mumbai market, palm oil was trading at Rs 105 and crude palm oil CPO Kandla was trading at Rs 30, while soyoil was up at Rs 105 for digam and Rs 1,050 for refined.

Sunflower was priced at Rs 150 and refined at Rs 150. There were indications that CCEA had given approval to increase the minimum sport price in Copra by Rs 5 to Rs 105. Soybean revenue was around 1 lakh times in Madhya Pradesh today and All India revenue was around 8 lakh 30 thousand times.

Meanwhile, palm oil futures in Malaysia today rose 12 points. Prices of palm products also jumped from ૫ 8.50 to ૭ 13.50 today. Markets there will be closed on Thursday due to public holidays, market sources said. Meanwhile, the overnight news of the US agricultural markets was also bullish. In overnight trade, soybean prices rose by 3 points, while soyoil prices rose by 3 points and soymeal prices by 3 points.

However, cotton prices remained soft at 6 points. There were indications that soyoil prices were higher in the projection this evening. In the Mumbai spot market today, the price of 10 kg castor oil fell by Rs 3 while the spot castor price remained soft at Rs 15. In the Mumbai flour market, the price of groundnut flour went up by Rs 200 per tonne and soymeal flour by Rs 200 per tonne, while other flours were quiet.

Peanut prices were quoted at Rs 80 to Rs 1,200 per gram. Meanwhile, Kiev at the Navi Mumbai Peanut Market. The prices per bold malo were Rs 300 to Rs 500 per quintal while the prices of 50-60 counts were Rs 1,200, Rs 20,500 for Rs 20-50, Rs 10,200 for 50-60 and Rs 10,200 to Rs 10,200 for 20-20. Peanuts are currently in high demand.

According to market experts, the supply of kharif crops to various centers is now barely 5 per cent. Even in winter crops, its new income has been delayed due to late planting. Production in the south has been slower than expected. In the wake of the rains there has been a resurgence of plantings which has been good and its income will come later. 20 to 5 per cent of the goods have been removed in bold grains. Now barely 5 to 20 percent of the goods are left.

In the Mumbai market, however, the price of 10 kg of cingulum oil fell to Rs 1,210 today, while manufacturers were bidding at Rs 15 and Rs 510 per 15 kg. However, there were indications that the prices of cotton washed were up by Rs 1,000 to Rs 1,005 this evening.