Trade in 500 tonnes of imported palm oil on demand

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(Gujarat News Office) Mumbai, Ta. 10 February 2021, Wednesday

In the Mumbai oil and bean market, prices were seen colliding today amid bilateral fluctuations. At present, palm oil was traded at around Rs 1,100 to Rs 1,110 per 10 kg hawala resale, while direct delivery at the refinery traded at around Rs 1,200 to Rs 1,415 per tonne for February today.

Meanwhile, palm oil futures in Malaysia rose 3 points in the global market today as palm oil prices rose by à«« 5 to વિવિધ 20 in various deliveries. In the first 10 days of February, total palm oil exports from Malaysia were reported to have increased by 3 to 4 per cent. There, production fell by 12 to 15 per cent in January. However, the stock has risen by 3 to 4 per cent at the end of January, while total exports in January, however, declined by 3 to 4 per cent, while exports rose again in February.

Meanwhile, soybean prices rose by 140 points in overnight trade in US agricultural markets, while soyoil prices rose by 3 points, soymeal by 21 points and cotton by 3 points. Amid short supply of soybeans in the US, there were reports of many overseas buyers turning to Brazil.

Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil is Rs 150, cottonseed oil Rs 1140 to Rs 115, mustard Rs 150, imported palm oil Rs 1110, sunflower Rs 150 and refined oil Rs 150, soybean oil Rs. 1110 and refined Rs. 1150. Crude palm oil CPO Kandla was priced at Rs 1,013. Meanwhile, in the futures market, the CPO today touched a low of Rs 6.30 and a high of Rs 1,071.

Soyoil futures traded lower at Rs 115 in the evening trade. While CPO futures were higher at Rs 6.50 in the evening. Meanwhile, prices of cingulum oil ranged from Rs 150 to Rs 150 and 15 kg to Rs 60 to Rs 90 per kg, while cotton washed was quoted at Rs 105 to Rs 105.

Meanwhile, castor oil prices fell by Rs 8 in Mumbai today while spot castor prices remained soft at Rs 10. Castor February futures, however, were trading at Rs 200 this evening amid a slow recovery.

In the Mumbai flour market, the price of a tonne of cottonseed meal fell by Rs 200 to Rs 300 and soymeal meal by Rs 200 today. While the prices of other flours were quiet. Meanwhile, sources in the Maharashtra government have said that the licenses of such elements will be immediately revoked if such incidents occur now due to the recent rise in cases of adulteration in edible oils in Mumbai-Maharashtra.

Meanwhile, soybean oil prices soared by 6 to 7 points in the projection in agricultural markets in the US this evening, besides soymeal and soybean prices were also reported to be in the minus this evening.

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