Rapid retreat behind the bases in cottonseed oil

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(Gujarat News Office) MUMBAI: Overall new demand in the Mumbai oilseeds market was slowing down today amid two-way fluctuations in various edible oils. In imported palm oil, hawala resell traded at around Rs 90-100 per 10 kg at Rs 115 to Rs 115 today, while new direct delivery operations at refineries were non-existent today.

Meanwhile, palm oil futures prices in Malaysia rose by 6, 7, 8 and 9 points in various deliveries in the global market today, while there were indications that the prices of palm products were in the range of ૫ 15 to ૨૫ 8 today.

In the US agricultural markets, soybean oil prices were showing a rise of 4 to 5 points in the projection this evening. In the Mumbai spot market, the price of 10 kg of cingulum oil remained quiet at Rs 150 today. Cottonseed oil, on the other hand, fell by Rs 1,205 to Rs 150. Mustard was priced at Rs 120 for Rs 120 while refined was priced at Rs 150.

Meanwhile, manufacturing companies today reported that the price of cingulum oil had gone up by Rs 1,200 and 15 kg by Rs 30-40, while the price of washed cotton was further reduced by Rs 150 to Rs 12 to Rs 150 to Rs 12 today.

Meanwhile, in the Mumbai spot market today, the price of imported palm oil was Rs 1150 to Rs 115. While the price of crude palm oil CPO Kandla was Rs 105 to Rs 105. In the futures market, CPO's June futures fell to Rs 102 from Rs 105 to Rs 6 in the evening today. While the July futures crossed the level of Rs.1000 from Rs.1003 to Rs.1008.

Soyoil's July futures rose by Rs 6 to Rs 6 to Rs 150 in the evening. In the Mumbai spot market, soyoil was trading at Rs 150, up from Rs 15. While the price of refined was hitting Rs. Today, the price of sunflower increased by Rs 10 to Rs 150 and refined to Rs 1,310.

In the Mumbai market today, the price of castor oil was quoted at Rs 1,081 to Rs 1,101, while the price of castor present in Mumbai was Rs 205 per kg from Rs 415 in Kiev. In the castor futures market, July futures traded lower by Rs 15 to Rs 715 this evening, sources in the futures market said.

In the Mumbai flour market, the price of sunflower flour per tonne was raised by Rs 600 to Rs 700 today. While the price of soymeal fell by Rs 200 to Rs 500, it fell below Rs 2,000 and was quoted at around Rs 60 to Rs 700. The price of castor meal was quoted at Rs 40-50 per tonne while the price of other meal remained calm today. There were indications that the price of palmolin at Kandla would be Rs 1,150 for delivery from June 3 to July 15.

Prices for various deliveries at Navi Mumbai port ranged from Rs 150 for sunflower and Rs 1,200 to Rs 1,310 for soyoil. Meanwhile, soybean oil and soymeal prices declined by 3 points in the US agricultural markets on the back of overnight trade.

According to world market news, the Egyptian government has purchased about 40,000 tons of edible oils from the world market. Of this, 20,000 tonnes of soyoil and 10,000 to 11,000 tonnes of sunflower oil were procured by Egypt, according to world market experts. There were indications that the price of sunflower has come down against the price of soyoil in the world market. Egypt bought 1.3 million tonnes of edible oils in June.

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