Retreat in domestic and imported edible oils: Cotton washed down within Rs 1300

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(Gujarat News Office) MUMBAI: New demand in the Mumbai oilseeds market was sluggish today. Prices of various domestic and imported edible oils saw a rebound. Producer establishments were soft. World market news was also showing a retreat.

There were indications from overseas that the price of crude oil in the world market was declining. In Malaysia, palm oil futures were down 3 points today, while in the US, soybean oil prices were reported to be in the range of 5-6 points this evening.

Meanwhile, on the Saurashtra side, there were indications that the price of cotton washed down today from Rs 1,200 to Rs 15 to Rs 150. Cingulum oil prices fell by Rs 15 to Rs 1,200 per kg and Rs 200 to Rs 210 per 15 kg. In the Mumbai spot market, 10 kg of cottonseed oil fell by Rs 15 to Rs 150 today while groundnut oil fell by Rs 150 again.

In the Mumbai market, imported palm oil was down by Rs 1,200 today while crude palm oil CPO Kandla was down by Rs 113. The futures market fell by Rs 8 to 10. In the futures market, CPO prices fell to Rs 1,115 and soyoil futures fell to Rs 15. Soybean futures were about 1 per cent softer.

Even in the castor futures market, the price of Kiev remained soft at Rs 50 today. However, the spot price of castor and castor oil in Mumbai was higher today. The price of spot castor rose by Rs 5 per 10 kg while the spot castor rose by Rs 20.

In the Mumbai spot market today, soyoil prices fell by Rs 150 to Rs 12 per kg, refs by Rs 15 per kg, sunflowers by Rs 15 per kg and refs by Rs 15 per kg. The price of mustard was Rs. 150 and Rs.

In the Mumbai flour market today, the price of a ton of various flours was quoted as high as Rs 800 to Rs 1,000. Meanwhile, according to world market news, Indonesia has increased the export tax on crude palm oil CPO from ૬૬ 15 per tonne to ડો 200 for November, while the export tax on RBD palmolin will be increased from ૮૩ 5 to à«­ 115 per tonne.

At Mundra-Hazira, soyoil prices ranged from Rs 12 to Rs 15 for various deliveries. Soybean income in Madhya Pradesh today was 3 lakh 50 thousand times while All India income was 3 lakh 50 thousand times.

At Navi Mumbai port, the prices of various delivery sunflowers ranged from Rs 120 to Rs 150, while soybean oil at Kandla was Rs 1,200 and sunflower at Chennai was Rs 150 to Rs 120. In the US, cotton prices rose 191 points in overnight trade, while soybean prices rose 18 points and soymeal prices rose 20 points, while soyoil prices fell 3 points.

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