Imported palm oil fell below Rs 1,200

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(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils were on an overall decline in the Mumbai oilseeds market today. However world market news was encouraging. In the Mumbai Jajar market today, the price of 10 kg of imported palm oil fell below Rs 1,200 to Rs 115.

The hawala-resale and refinery direct delivery trades were scattered. Crude palm oil CPO Kandla was down by Rs 115. Fluctuations in the futures market were narrow. CPO futures were trading at Rs 1,115 while soyoil futures were trading at Rs 19.50.

In the Mumbai spot market, soyoil prices were quoted at Rs 15 for digam and Rs 1,315 to 1,315 for refined. In the US agricultural market, however, soybean oil was trading 20-21 points higher this evening. In Malaysia, palm oil futures also rose to close at 8, 9, 21 and 12 points. There, the price of the palm project increased from ૫ 8 to ૫ 13.50.

Soybean futures saw a slow decline today while mustard futures saw a slow improvement. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil fell by Rs 15. While cottonseed oil was down by Rs 15. Producers reported lower prices of cotton washed at Rs 150 to Rs 15 per kg, while cingulum oil at Rs 150 to Rs 15 and 15 kg at Rs 20 per kg.

In the Mumbai market, the price of sunflower fell to Rs 1,210 and refined to Rs 150. While the price of mustard was Rs 120 and Rs 150 for ref. Mumbai castor spot price today rose by Rs 3 to Rs 15 to Rs 12 per 10 kg. While the price of castor present in Mumbai was Rs. In the Mumbai flour market today, the price of a ton of soymeal was quoted at around Rs 2,000 per gram.

The price of sunflower meal fell by Rs 2,000 per tonne while the price of castor meal fell by Rs 200. However, the prices of groundnut were quoted at Rs 600 to Rs 700 per tonne.

In 30 days, total palm oil production in Malaysia was expected to decline by 3 to 4 per cent. Palm oil exports from Malaysia were reported to have increased by 3 to 4 per cent in 30 days. The price of sunflower at Navi Mumbai port was Rs 1,200 while at Chennai it was Rs 150 to Rs 1,200.

Meanwhile, in US agricultural markets, soybean prices fell by 215 points in overnight trade, while soybean meal fell by 9 points and soyoil by 14 points. However, soybean and soyoil prices were again high in the projection this evening.

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