Saurashtra falls behind cotton oil: New cotton revenue likely to rise

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MUMBAI: The Mumbai oil-seeds market witnessed mixed weather today with narrow fluctuations in edible oils. Thousands of tonnes of trades were made as the demand increased due to a decrease in imported palm oil. However, the futures of Malaysia palm oil remained soft by 11 points today, while the price of American soybean oil rose by 49 points in the projection today after falling by 89 points overnight. In Saurashtra, the price of washed cotton fell below Rs.1200 to Rs.1190. Saurashtra Singtel was quiet on the decline.

In the Mumbai spot market today, the price of 10 kg of single oil was falling at Rs.1630. While cotton oil prices fell behind Saurashtra to Rs.1260. The price of imported palm oil rose from a low of Rs.880. 1000 tonnes were traded for various deliveries at Rs.880 to Rs.885.

The price of crude palm oil CPO kandla was Rs.810. The price of Mumbai Soybean Oil was Rs.1080 for Digum and Rs.1150 for Refined. The price of sunflower was Rs.1220 and refined was Rs.1300. The price of mustard was Rs.1270 and refined was Rs.1300.

Castor futures prices were showing a marginal decline in the market. New cotton receipts have started in various producing centers of the country which the informants were showing hope to increase further. This has led to a retreat in the price of cotton washed cottonseed oil. The informants were showing the possibility that the income of new cotton will accelerate in October. Palm oil exports from Malaysia have increased significantly in 25 days.

The income of mustard was 85 thousand times in Rajasthan and 1 lakh 85 thousand times in all India. Prices in Rajasthan were Rs.6300 to Rs.6325. The income of soybeans in Madhya Pradesh was 30 thousand times of old goods and 1 lakh 60 thousand times of new goods, where the prices of old goods were Rs.5050 to 5200 and new goods were Rs.3700 to 4700.

The prices of new goods remained low due to moisture content in new goods. Soybean income in Maharashtra increased by 50 thousand times. In the overnight trade in the agricultural markets of America, a significant retreat was seen in the prices of soybean and soybean oil as well as soybean meal.

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