Soyoil exports from Nepal to India hit a six-month high

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(Gujarat News Office), Mumbai, Ta. Saturday, January 23, 2021

In the Mumbai oilseeds market, cottonseed oil fell further today behind the scenes. While cingulum oil prices were quiet. The fluctuations were narrow. Meanwhile, prices of imported palm oil, soyoil and sunflower remained mild. World market news was showing a sharp bang.

There was news of a massive massive price crash in the US agricultural markets as the fund-raising sells out. New demand was sluggish in the Mumbai spot market today and scattered trades in imported palm oil were disrupted due to hawala delays.

Meanwhile, players were stunned as soybean prices fell 3 points in overnight trade in the US agricultural markets. Soybean oil prices fell by 116 points, soymeal by 12 points and cotton by 101 points.

In Argentina, the truck strike was reported to have adversely affected the movement and export of various agricultural products. However, global players were surprised as US markets collapsed.

Meanwhile, soyoil exports from Nepal to India have risen to a six-month high. Such imports from Nepal to India have increased to 2,050 tonnes between December 15 and January 15. Exports of sunflower oil from Nepal to India have also increased recently.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was Rs 150 today while the price of cottonseed oil fell to Rs 1,050. Mustard was priced at Rs 120. Producers were quoted at Rs 6 to Rs 7 for cotton washed, while cingulum oil was reported at Rs 15 to Rs 1,200 and 15 kg at Rs 210 to Rs 20 per kg. Peanut prices were quoted at Rs 30 to Rs 1,200 per quintal.

In the Mumbai spot market, imported palm oil fell by Rs 50 today. While crude palm oil CPO Kandla was priced at Rs. Soyoil prices fell to Rs 1,050 and 15 kg to Rs 105. While the price of sunflower was Rs 120 and the price of refined was Rs 15.

Mumbai spot castor oil prices fell by Rs 5 today while spot castor prices remained soft at Rs 5. Meanwhile, the price of groundnut flour fell by Rs 1,000 per tonne in the Mumbai flour market today, while the price of castor flour remained soft at Rs 30 per tonne.

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