Recession behind Singtel in manufacturing

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(Gujarat News Office) MUMBAI: Cingulum oil prices fell further in the Mumbai oilseeds market today. The news of the establishments was showing softness. In the Mumbai market today, the price of 10 kg of cingulum oil fell below Rs 1,200 and was quoted at Rs 150.

Producers today said that the price of cingulum oil fell further to Rs 1,200 to Rs 12 per kg, while the price of 15 kg fell to Rs 3,100 to Rs 3,150 per kg. Prices of cotton washed fell from Rs 1,310 to Rs 1,415 to Rs 1,200 today. Today, it was Rs 150 to Rs 1,200.

In the Mumbai spot market, the price of cottonseed oil was Rs. Meanwhile, imported palm oil was hovering around Rs 115 in the Mumbai market today while crude palm oil CPO Kandla was trading at Rs 1,050. Palm oil had sporadic trade in hawala-resale today.

The spot price of soyoil today was Rs 12, but it was higher at Rs 150. While the refined price was Rs 120. The price of sunflower was Rs.150 and the price of refined was Rs.150. Mustard was priced at Rs 120 and refined at Rs 150.

Meanwhile, palm oil futures prices in Malaysia were softened by 9, 12, 13 and 14 points in various deliveries in the global market today. There, however, the price of palm products was quoted at ૫ 8 to ૫ 15 higher today. Global palm oil production in Malaysia is expected to increase by about 10 to 15 per cent in June, world market analysts said today.

In the US, soyoil prices fell sharply over the weekend, prompting a rebound this evening.

Last week, there was a sharp drop in soyoil prices following a court ruling in favor of anti-biofuel crude oil refineries. Today, however, prices rose again. There were indications that agricultural crops were affected amid adverse weather in Paraguay.

Soybean prices fell in Chinese markets today, while soyoil, soymeal and palm oil prices declined. In the US, soyoil prices were 115 to 150 points higher in projection this evening. Besides, soybean and soymeal prices were also projected to be higher in the projection this evening.

Meanwhile, in the domestic futures market, crude palm oil CPOs for July futures rose by Rs 15 to Rs 17 to Rs 1,005.50 to Rs 1,005 this evening. Soyoil, on the other hand, rose by Rs 31 to Rs 5 in July from Rs 15 to Rs 12. In the castor futures market, the July price fell by Rs 15 to Rs 305 this evening. Mumbai spot castor and castor oil prices, however, remained calm today.

Prices for various deliveries at Navi Mumbai port ranged from Rs 150 to Rs 150 for soyoil and Rs 150 for sunflower. In the Mumbai flour market, the price of a tonne of cottonseed meal fell by Rs 200 to Rs 500 today. While the price of castor meal had gone up from Rs.500 to Rs.20. Soymeal prices fell by Rs 200 to Rs 300 per tonne today and were hovering around Rs 2,000. Others were colliding.

Soybean revenue today was about 1.5 lakh times nationwide, out of which the revenue in Madhya Pradesh was about 30,000 times, in Maharashtra about 50,000 and in Rajasthan 10,000 times. There were reports of plant delivery prices ranging from Rs 4,050 to Rs 500.

India's total import of various edible oils is projected to reach around 121 lakh tonnes in 2020-21. The volume of imports has been maintained but the import bill has gone up in the face of rising global markets, experts said.


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