Rise in palm oil against reduction in effective import duty on soyoil

-

(Gujarat News Office) Mumbai, Ta. 16 February 2021, Tuesday

The prices of imported edible oils rose in the Mumbai oilseeds market today. Indigenous edible oils were also firm. However, fresh demand fell in the Mumbai market today and imported palm oil was traded at Rs 1,115 to Rs 115 per 10 kg at a hawala resale. World market news was encouraging. Meanwhile, the government has made changes in the tariff value used as a benchmark to calculate the import duty on edible oils imported domestically.

Such tariff value has increased in palm oil while such tariff value has decreased in soyoil. This has led to an increase in the effective import duty on palm oil while a decline in soyoil, market analysts said. Meanwhile, palm oil futures in Malaysia today closed lower by 9 points at the end of the day after rising.

In the US agricultural markets, soyoil futures were in the projection of 5 to 20 plus in the projection this evening. Soybean and soymeal prices were also higher in the evening in the projection.

Meanwhile, the government has increased the tariff value of crude palm oil CPO from ૩ 103 to ૪૫ 103 since 2014 and from palm oil to ૭૯ 105 from ૪૭ 105. Soyoil's tariff value has been reduced from ૨૭ 115 to ૩ 1,105. As a result, the effective import duty on CPOs has gone up by Rs 3 per tonne and palmolin by Rs 115, while soyoil has fallen by Rs 3, market analysts said.

In the Mumbai spot market today, the price of 10 kg of imported palm oil rose from Rs 1,115 to Rs 1,115. While CPO Kandla's price rose to Rs 105. In the futures market, CPO prices were quoted at Rs 105 this evening and soyoil was quoted at Rs 115.50 in March. Castor March prices, however, fell by Rs 5 to Rs 215. Mumbai spot castor prices fell by Rs 20 today while castor oil prices remained soft at Rs 5.

Rayada and mustard have grown from 3 to 4 lakh hectares nationwide, market insiders said. In Brazil, where the weather was favorable, there was news of an increase in soybean cultivation. In the Mumbai spot market, cingulum oil prices were quiet at Rs 150 today while cottonseed oil prices rose to Rs 115.

In the Mumbai market, the price of 10 kg was Rs 1,400 for Coparel, Rs 120 for Rayda oil and Rs 150 for Rifa, Rs 150 for Sunflower and Rs 150 for Rifa. Soybean oil prices ranged from Rs 1,105 to Rs 1,105 for digam and Rs 115 for refined. Producers today reported that the price of cingulum oil was Rs 150 to Rs 150, 15 kg to Rs 20 to 30 and the price of cotton washed was Rs 1,050 to Rs 105.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more