Soybean futures fell 3 percent as new arrivals began

(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai oilseeds market today. Fears that a stock cap would now be imposed after the government recently reduced the import duty were met with unrest among traders.

In the global market, however, palm oil futures in Malaysia rose to close at 8, 12, 20 and 10 points. While there the prices of palm products remained soft from two and a half to ten dollars. In the US agricultural market, soyoil prices were in the projection of 5 to 20 points plus in the projection this evening.

At home, soybean futures were trading at around Rs 20 per kg in September. While October prices were down to Rs 305. With the new season set to begin in October, October futures prices are significantly lower than in September, market sources said. Similarly, soyoil's September futures fell by Rs 10.50 to Rs 19 today, while October futures fell by around Rs 1,505 to Rs 1,405.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil fell to Rs 15 today, while cottonseed oil fell to a low of Rs 150. The prices of cotton washed at Rs 150 to Rs 12 were Rs 150 to Rs 18 today while the price of cingulum oil was Rs 15 to Rs 150 and Rs 15 per 15 kg.

In the Mumbai market, imported palm oil was down by Rs 1,215. In palm oil, hawala-resale and refinery direct deliveries traded at around 5 to 20 tonnes today. Crude palm oil CPO Kandla was down by Rs 1,150 while futures CPO was down by Rs 2.50 to Rs 1,105 in September.

In the Mumbai market, the spot price of soyoil fell from Rs 1,305 to Rs 1,210 for Digam and Rs 150 for Rifa, while the price of Sunflower fell to Rs 1,200 and Rs 150 for Rifa. Mustard was priced at Rs 120 and Ripa at Rs 150. In the Mumbai flour market, the price of a tonne of soymeal, however, jumped by Rs 1,000 to Rs 30-300, while the price of groundnut flour fell by Rs 1,000.

However, cottonseed meal went up by Rs 200. Castor meal prices rose by Rs 100 per tonne. Mumbai castor spot and castor spot prices were quiet today while castor prices in the futures market were quoted at Rs 4,150, down by Rs 4 in September and Rs 4, down by Rs 4 in October.

The prices of various deliveries at Mundra-Hazira ranged from Rs 1,507 to Rs 1,315 for palm oil, Rs 15 to Rs 12 for soyoil and Rs 150 for sunflower. Exports of palm oil from Malaysia were reported to have increased by about 20 to 21 per cent in 15 days.

In Madhya Pradesh today, the new income of soybean was about 20 to 21 thousand times. The price of new goods was 50 to 70 per cent moist and the price was Rs. In the US overnight trade, cotton and soybean prices declined while soyoil and soymeal prices rose.