New Year begins with movement in edible oil markets

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Mumbai: Prices of various domestic and imported edible oils remained on the decline in the Mumbai oilseeds market today. Saurashtra and world market news were showing retreat. Meanwhile, as investigations and raids by the government department of food safety and standards on edible oil traders in Mumbai and Maharashtra increase, the New Year is likely to begin with violent agitation and calls for a bandh, sources in the All India Edible Oil Traders Association said.

A zoom meeting will be held on this issue on Sunday (today) and then a meeting of all Maharashtra traders will be called on Friday, November 5. Traders are planning a counter-agitation strategy and there is a possibility that a strike may be called. In the present market of Mumbai today, the price of 10 kg of single oil fell to Rs.1610.

The price of cotton oil was Rs.1380. Soybean oil prices fell to Rs.1260 digum and refined to Rs.1330, imported palm oil prices fell to Rs.980 and crude palm oil CPO kandla prices to Rs.880.

The price of sunflower stopped rising and fell again to Rs.1480 and that of refined was Rs.1560. The price of mustard was Rs.1400 and refined was Rs.1430 in Saurashtra, the price of single oil was Rs.1575 and 15 kg was Rs.2500 and cotton washed was Rs.1305.

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