Stormy boom in castor and castor market

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Advances in prices of various edible oils


(Gujarat News Office) MUMBAI: New demand in the Mumbai oilseeds market was sluggish today, however, prices of various edible oils continued to rise. At the hawala resale in palm oil, 100 to 150 tonnes were traded at Rs 15-150 per 10 kg today. Trends in the world market were mixed. In Malaysia, palm oil prices fell by 3 points, while in the US, soyoil prices were projected to rise by 21 to 3 points.

In the Mumbai spot market today, the price of cingulum oil was Rs 150, cottonseed oil was Rs 1,310, mustard was Rs 120 and refined oil was Rs 1,210. Soyoil prices were at Rs 16 for digam and Rs 150 to Rs 15 for ref. The price of sunflower was Rs.12 and that of ref. Palm oil prices were hovering between Rs 15 and Rs 12 while crude palm oil CPO Kandla was trading at Rs 15.

Meanwhile, Diwali and castor spot were bullish today. Castor oil prices in the Mumbai market today rose by Rs 5 per 10 kg to Rs 150 to Rs 150 per quintal, while the price of castor present in Mumbai today jumped by Rs 2 to Rs 200 per kg. There was talk of increasing export inquiries.

In the Mumbai flour market, the price of a tonne of castor flour rose by Rs 200 today while the price of soymeal flour was quoted as high as Rs 1,000. However, other flours remained calm. On the Saurashtra side, the price of cingulum oil was Rs 150 to Rs 1,200 and for 15 kg it was Rs 4,050 to Rs 4,050. While there the price of cotton washed was Rs.150.

Coparel prices were soft in the Mumbai market. Rice bran oil, however, was increased. Meanwhile, palm oil exports from Malaysia were expected to decline by about 3 to 4 per cent in the first 10 days of February. Rooney's income in the country today was 1 lakh 2 to 30 thousand bales on an all India basis.

In Madhya Pradesh, soybean income was 1 lakh 3 thousand times and All India was 3 lakh 4 thousand times. In Malaysia, palm oil futures fell in February and March. While April futures were in plus. At home, castor futures had jumped from Rs 150 to Rs 15 today and there were indications that it had crossed the Rs 200 level. Prices rose to close to Rs 500.

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