Peanut oil and cottonseed oil are on the rise

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(Gujarat News Office) MUMBAI: Singtel and cottonseed oil prices rose in the Mumbai oilseeds market today. The news of the manufacturing establishments was encouraging. Meanwhile, imported edible oils were soft.

The domestic futures market session started after 5 pm today. In Malaysia, palm oil futures fell in the global market today, with various delivery prices hovering at minus 6, 7, 21 and 9 points, while palm product prices fell by à«« 15 to à«« 2.50.

Palm oil exports from Malaysia are expected to fall by about 8-10 per cent in the first 30 days of this month, according to world market analysts. The official figures are due on Friday. Meanwhile, indications were flowing today that Malaysia is now considering starting night trading to increase its trading volume.

Meanwhile, there were indications that Egypt was showing interest in buying soyoil and sunflower oil in the world market today. Indications were also received today that South Korea's tender for 12,000 tonnes of white sesame would open on August 9. Sesame prices have recently gone up in the country, market sources said. Meanwhile, prices of cingulum oil and cottonseed oil rose by Rs 150 and Rs 1,310 per 10 kg, respectively, in the Mumbai spot market today.

Mustard was priced at Rs 150 and refined at Rs 1,200. The prices of cingulum oil rose by Rs 15 and Rs 20 per 15 kg, respectively, while the prices of cotton washed rose by Rs 15 to Rs 120 per kg.

In the Mumbai spot market, imported palm oil was trading at Rs 15 today. Trades were wings. Operations were cold following the bank holiday. Crude palm oil CPO Kandla was priced at Rs 1,200. In the futures market, the CPO's August futures fell by Rs 2.50 to Rs 1,150 this evening, while the September futures fell by Rs 2.50 to Rs 119.50. Soyoil's September futures fell by Rs 4.50 to Rs 19 in the evening trade.

In the US, soyoil prices were projected to fall to minus 102 points in the projection this evening. In the Mumbai spot market, soyoil was trading at Rs 150 for digam, Rs 1,200 for refined, Rs 120 for sunflower and Rs 1,200 for refined. The spot price of Mumbai castor rose by Rs 7 per 10 kg today while the spot price of castor rose by Rs 3 per kg in Kiev.

In the Mumbai flour market today, the price of a ton of groundnut was quoted at Rs 2,000, while the price of soymeal fell by Rs 200 to Rs 500 per tonne to around Rs 3,000. Others, however, remained silent. Mustard Sea's revenue today was 4,000 times in Rajasthan and 1 lakh 4,000 times in All India. On the Rajasthan side, the price was Rs 30 to Rs 4.

On the Mundra-Hazira side, various delivery prices were Rs 150 to Rs 150 for palm oil, Rs 150 for soyoil and Rs 150 to Rs 1,200 for sunflower. In the US, soybean prices fell by 108 points in overnight trade, while soyoil prices were down 51 points, soymeal 5 points and cotton 12 points.


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