Castor spot, futures and castor oil prices rose

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(Gujarat News Office) MUMBAI: The Mumbai Oilseeds market today witnessed a decline in prices of various domestic and imported edible oils. The new demand was winged. Manufacturing establishments and world market news were showing weakness. Edible oil prices were also under pressure today in the futures market behind the spot.

In the Mumbai spot market, the price of cingulum oil fell to Rs 19 per 10 kg today. While the price of cottonseed oil fell to Rs. Mustard was priced at Rs 150 and refined at Rs 1,200. Producers today quoted cingulum oil at Rs 1,200 and 15 kg at Rs 50. While the price of cotton washed was news of Rs 150.

Meanwhile, palm oil futures prices in Malaysia today fell by 8, 9, 105 and 104 points in various deliveries. While there, the price of palm products today fell from two and a half to five dollars. However, world market analysts today predicted that Malaysia and Indonesia will increase export-oriented export taxes for September. Palm oil exports from Malaysia, however, have recently retreated.

Meanwhile, the National Mission on Edible Oils, which is set to boost edible oil production in India, received news of cabinet approval today. As a result, the market is now keeping an eye on what effective measures are being taken by the government to increase production in the country.

In US agricultural markets, soybean prices fell by 20 points and soyoil by 8 points in overnight trade. While soyoil prices were up 3 points and cotton prices were up 3 points. Soyoil prices were down 50 points in the projection this evening. Besides, soybean and soymeal prices were also in the negative in the projection.

In the Mumbai spot market today, imported palm oil fell by Rs 15 per 10 kg, while crude palm oil CPO Kandla fell by Rs 1,210. In the futures market, CPO and soyoil prices fell by Rs 15 to Rs 12 this evening. The September futures were trading significantly lower against the August futures at the CPO.

Soybean prices rose in Chinese markets today. While soyoil, soymeal and palm oil prices remained in minus. At home, soybean futures were up nearly two per cent this evening. While mustard seed futures prices showed a slow improvement. Soybean revenue was 12,000 times in Madhya Pradesh today and All India revenue was 3,000 times.

In Madhya Pradesh, soybean prices ranged from Rs 200 to Rs 3,100 per kg and Rs 200 to Rs 3,100 per plant for delivery. Mustard seed revenue was 30,000 times in Rajasthan and 4 lakh times in All India today and the price in Rajasthan was Rs 5,000 to Rs 6,000. In the Mumbai spot market, soyoil prices fell to Rs 150 for digam and Rs 1,200 for refined. While the price of sunflower fell to Rs 120 and refined to Rs 150.

The spot price of castor oil rose by Rs 11. While the price of present castor was increased by Rs. Castor September futures were up by Rs 5 this evening to Rs 515. Meanwhile, in the Mumbaikhol market today, the price of Sangikhol fell by Rs 2,000 per tonne to Rs 3,000. While the price of castor meal increased by Rs 100 per tonne to Rs 50. The others, however, were quiet.


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