Narrow fluctuations in various domestic and imported edible oils

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(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils have been fluctuating in the Mumbai oilseeds market. New demand was slowing. However, market inflows are still strong and prices are likely to rise further, market sources said. In the Mumbai spot market, the price of cingulum oil was quoted at Rs 150 per 10 kg and around Rs 1,300 while the price of cottonseed oil was Rs 1,315.

Mustard oil was priced at Rs 1,310 and refined at Rs 150. Producers had started raising the price of cingulum oil to Rs 1,200 from Rs 150 to Rs 15 today. While the price of 15 kg which went above Rs. Prices of cotton washed ranged from Rs 150 to Rs 18 at Rs 15 to Rs 120 on Friday.

Meanwhile, the planting of various oilseeds in the country so far this year has been around 15-150 lakh hectares as against the indications of 15-16 lakh hectares in the same period last year. Meanwhile, the spot price in the Navi Mumbai groundnut market today was Rs. 200 remained.

In the Mumbai spot market today, the price of imported palm oil was Rs 150 per 10 kg. New trades were wings. Crude palm oil CPO Kandla was trading at Rs 1,400 to Rs 1,125. Meanwhile, soymeal prices were quoted at Rs 150 for digam and Rs 1,200 for refined. Sunflower was priced at Rs 120 and refined at Rs 150.

Soybean cultivation in Madhya Pradesh has come down from 3/4 lakh to 2/3 lakh hectares so far. While the soybean all India cultivation has increased from 115/2 lakh to 18/2 lakh hectares this year, experts said. In Maharashtra, soybean cultivation has increased from 20/2 lakh to 2/3 lakh hectares. In Bhopal, Jabalpur and Sagar area, there were indications of declining soybean cultivation in Madhya Pradesh.

Meanwhile, castor cultivation has come down from 2/3 lakh to 2/15 lakh hectares. While sesame cultivation has been reduced from 15/6 lakh to 16/21 lakh hectares. Sunflower has been planted on 1/2 lakh hectares against 1/15 lakh. While there were indications that groundnut was planted in 3/05 lakh hectares against 50/6 lakh. In the US agricultural market, cotton prices rose by 61 points in the overnight trade while soybean prices fell by 3 points.

Soymeal prices were 6 points softer there. Soyoil prices were reported to have slowed in the near term and subsequent deliveries were reported to be higher. In various deliveries at Hazira, soyoil prices were quoted at Rs 1,305 to Rs 1,210 today. Meanwhile, amidst the lack of rainfall in various parts of the country, the clouds are now looking ahead.


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