With the beginning of Navratri, housewives were relieved as the prices of edible oils fell

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MUMBAI: A sense of relief spread among seasonal consumers at the Mumbai oil-seeds market today as the prices of various domestic and imported edible oils came down sharply with the start of the Nivratri festival. The prices of various edible oils witnessed a sharp drop today as crude oil tumbled in the global market.

As the world market declined, its impact was seen on the market at home as well. Saurashtra news was also soft. Palm oil futures in Malaysia fell by 190 points today while US soybean oil prices were 80 points lower than the projection today. In Saurashtra, single oil prices fell by Rs.1600 to Rs.2550 for 15 kg, while the price of washed cotton fell to Rs.1200.

Meanwhile, in the Mumbai spot market today, the prices of 10 kg single oil fell to Rs.1630 and cottonseed oil to Rs.1285. Imported palm oil fell below Rs.900 to Rs.870 to 875. 100 to 150 tonnes were traded at Rs.870 to 875. Crude Palm Oil CPO Kandla price was Rs.820.

The prices of Mumbai soybean oil fell to Rs.1080 for digum and Rs.1140 for refined. While the price of sunflower decreased to Rs.1220 and that of refined was Rs.1310. Mustard prices remained soft at Rs.1280 and refined at Rs.1310.

In the castor futures market today, the prices stopped rising and remained soft at Rs.70. There was news of a significant fall in the prices of palm oil and soybean oil in China's markets today. Mustard income today was 70 thousand times in Rajasthan and 1 lakh 50 thousand times in all India. Prices in Rajasthan were Rs.6325 to Rs.6350 per kw.

However, there was news that palm oil production in Malaysia has decreased by about 1.70 percent in 25 days. Malaysia's total palm oil exports were projected to grow by 19 to 20 percent during this period. However, today the prices were broken by 6 to 7 percent!

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