Rapid rise in mustard seeds and oil

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(Gujarat News Office) MUMBAI: Mustard seeds and oil prices rose in the Mumbai oilseeds market today, while prices of other domestic and imported edible oils remained sluggish. In the mustard seat futures market, prices rose by about 2.5 per cent today, while in the Mumbai spot market, the price of mustard oil jumped by Rs 150 per 10 kg and refined by Rs 150.

Soybean futures were expected to stabilize today. However, in the Mumbai flour market today, the price of soymeal fell by an additional Rs 1,000 per tonne to around Rs 7-800. Prices of groundnut and sunflower meal also fell by Rs 800 to Rs 1,000 per tonne today. The others, however, were quiet.

Market prices were under pressure amid hopes of increasing supply of overseas GM goods in soymeal. In the US agricultural markets, soyoil prices were projected to be 20 to 21 points higher in the projection this evening.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil remained quiet at Rs 150 today. While cottonseed oil prices fell to Rs. Producers today reported that the price of cotton washed was reduced from Rs 1,305 to Rs 1,610.

The price of cingulum oil was Rs 150 to Rs 15 per kg and Rs 20 per 15 kg. In the Mumbai market, imported palm oil was priced at Rs. Scattered trades ranged from Rs 150 to Rs 15. Crude palm oil CPO Kandla was priced at Rs 1,150.

In the futures market, however, CPO futures rose by Rs 2.50 to Rs 115.50 while soyoil futures rose by Rs 2.50 to Rs 15 in the evening trade. Castor's September futures jumped by Rs 5 to Rs 4,100 this evening and were trading at Rs 715.

Mumbai spot castor was also up by Rs 50 to Rs 200 while Mumbai spot castor oil was priced at Rs 120 to Rs 150 per 10 kg today. In the Mumbai spot market, soyoil was trading at Rs 15 for digam and Rs 150 for refined, while sunflower was trading at Rs 120 and refined for Rs 150.

Meanwhile, palm oil futures in Malaysia traded higher by 9, 21, 21 and 9 points, respectively, while palm product prices rose by five to ten dollars. Soybean revenue in Madhya Pradesh today was 15,000 times and All India was 20,000 times. In Madhya Pradesh, prices ranged from Rs 200 to Rs 3,100 and plant delivery from Rs 200 to Rs 3,150.

In Rajasthan, the price of mustard seed ranged from Rs 30 to Rs 4. There, the income of mustard was 40 thousand times today and All India was 1 lakh 50 thousand times. The price of sunflower in various deliveries at Navi Mumbai port ranged from Rs 1,200 to Rs 1,210. There were reports that the Brazilian government had reduced the percentage of biofuel blends in diesel to 10 percent.

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