Saurashtra declines in Singoil, cottonseed oil

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MUMBAI: The prices of various domestic and imported edible oils were on a tear at the Mumbai oilseeds market today. Behind Saurashtra, the prices of single oil and cottonseed oil showed a retreat.

While the prices of imported edible oils rose from the top as the world market rose. As demand also increased in imported palm oil, 600 to 700 tonnes were traded at Rs.920 to 930 per 10 kg. Palm oil futures in Malaysia rose from 150 to 155 points today.

At home, however, in Saurashtra, single oil prices fell to Rs.1625 to 1650 and 15 kg to Rs.2600, while Saurashtra cotton washed prices fell to Rs.1250 to 1255.

In the Mumbai spot market today, the price of single oil fell to Rs.1670 and that of cottonseed oil fell to Rs.1290, although the price of imported palm oil rose to Rs.930 while the price of crude palm oil CPO kandla rose from Rs.850 to 855.

Mumbai soybean oil prices were Rs.1130 to Rs.1135 for digum and Rs.1170 for refined. The price of sunflower was Rs.1270 and refined was Rs.1340. The price of mustard was Rs.1300 and refined was Rs.1330.

Mumbai spot diwali prices rose by Rs.7 today while spot castor prices were trading at Rs.35 per quintal and castor futures by Rs.30 per quintal. Experts were showing the possibility of 9 to 10 percent increase in palm oil import in India in the current financial year.

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