Retaliation in prices of various domestic and imported edible oils

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MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai Oilseed Market today. News from world markets and manufacturers were showing signs of decline. New demand in the Mumbai market was also slow today.

Fear of new government measures as inflation rises was also seen in the market today and its impact on market prices was also seen. In the Mumbai spot market, the price of 10 kg of imported palm oil fell by Rs 15 and crude palm oil CPO Kandla by Rs 1,200.

Mumbai Soyoil prices were quoted at Rs 15 for digam and Rs 150 for refined. Cottonseed oil prices also stopped rising and fell again to Rs 150. Peanut oil was down from Rs 150 to Rs 19. Mustard prices also stopped rising and fell again to Rs 150 and refined to Rs 1910. Prices of sunflower were soft at Rs 150 and refined at Rs 150.

In Saurashtra, prices fell to Rs 1,415 for cotton washed and Rs 15 for 15 and 15 kg of cingulum oil. Castor futures market witnessed a slowdown today. In the Mumbai market, palm oil traded at Rs 15-150 per tonne for just 50 to 100 tonnes today.

Meanwhile, palm oil futures in Malaysia today showed signs of breaking 5 to 20 points in the world market. Prices of palm products also fell by ૫ 15 to 7. Market sources said that the Malaysian market was collapsing as more permits were issued by Indonesia for palm oil exports. Prices of various deliveries at Mundra-Hazira ranged from Rs 15 to Rs 12 for palm oil and Rs 150 to Rs 150 for sunflower.

Indonesia's plans to export about 1 million tonnes of crude palm oil by the end of July were discussed in world markets today. Meanwhile, soybean income in Madhya Pradesh today was 6,000 times and All India 1 lakh 40,000 times. Mustard's income was 1 lakh 30 thousand times in Rajasthan and 2 lakh 50 thousand times in All India. Prices in Rajasthan ranged from Rs 500 to Rs 6.

Cotton prices soared in the US agricultural markets overnight trade, while soybean prices also rose. Soyoil prices were also on the rise in the overnight trade. However, soymeal prices remained soft.

Meanwhile, spot castor and spot castor prices in the Mumbai market today saw a slight improvement. In the Mumbai flour market, the price of groundnut flour went up by Rs 200 to Rs 300 per tonne while other flours were quiet.

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