Advancement in domestic and imported edible oils continues

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(Gujarat News Office) MUMBAI: Overall prices of various domestic and imported edible oils rose in the Mumbai Oilseeds market today. Demand in the market also increased today. Imported palm oil saw direct delivery from refineries several days later today. The refineries traded in direct delivery for various deliveries at Rs 1,150 per 10 kg in imported pots today at 200 to 300 tonnes while hawala resell traded at 100 to 150 tonnes today.

In the Mumbai spot market, the price of 10 kg of cingulum oil rose by Rs 10 to Rs 150 today, while cottonseed oil rose by Rs 150. Mustard prices rose to Rs 120. Meanwhile, manufacturers were quoted at Rs 1,200 to Rs 15 for cingulum oil and Rs 30 to Rs 50 for 15 kg, while cotton washed prices were quoted at Rs 150 to Rs 15 today.

In the Mumbai market, imported palm oil rose by Rs 115 to Rs 1,150 today, while crude palm oil CPO Kandla rose by Rs 105. The futures market witnessed a strong rally today. The bullish circuit took effect today as soybean futures bounced back.

CPO June futures were up by Rs 10 to Rs 1,081. While July futures were trading at Rs 2.50, soyoil futures were hovering at Rs 131, up from Rs 5 to Rs 7 in July. The spot price of soyoil was quoted at Rs 150 for digam and Rs 150 for refined today. Sunflower prices were showing a slow recovery today. The price of sunflower was Rs 150 per 10 kg and refined was Rs 150.

In Malaysia, palm oil futures fell in various deliveries today to minus 5, 20, 3 and 4 points, while palm product prices rose by પાંચ 5. In Malaysia, meanwhile, palm oil production in the first 20 days of June was projected to grow by a total of 15 to 18 per cent, while total palm oil exports fell by 1 to 5 per cent during the same period, according to world market analysts.

Meanwhile, the spot price of castor oil in the Mumbai market today rose by Rs 5 per 10 kg from Rs 105 to Rs 1,105 per kg, while the spot price of castor in Mumbai rose by Rs 20 to Rs 50 per kg. In the castor futures market, July futures were trading at Rs 4,150 this evening.

Meanwhile, in the Mumbai flour market, the price of groundnut flour had gone up by Rs 300 to Rs 1,000 per tonne today, while soymeal prices had jumped from Rs 200 to Rs 2,000 per tonne to Rs 4,000 per tonne today. Castor meal prices rose by Rs 100 per tonne today while other flours were quiet.


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