Mixed weather in edible oils: Castor and safflower prices rise again

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MUMBAI: Various imported edible oils rose in the Mumbai oilseeds market today. Weather in domestic edible oils was mixed. In the world market, after the increase in the promises of Malaysia palm oil, it fell again and finally remained 55 to 60 points softer. Indications that the outbreak of Kovid in China is increasing again, the effect of palm oil was seen in the world market. Meanwhile, the price of soybean oil in the US rose by 105 to 110 points overnight.

Today, prices in the projection were closed due to a public holiday. Meanwhile, the price of imported palm oil rose to Rs.970 per 10 kg in the Mumbai spot market. In hawala resale, ready was traded at Rs.968 to 970 and forward at Rs.975 to 977 for December 1 to 10. There were no new trades in direct delivery today with refinery direct delivery prices staying as high as Rs.990.

Crude palm oil CPO kandla prices were Rs.885 against Rs.880. Meanwhile, sources in The Solvent Extractors Association of India said that a demand has been made to the central government to increase the difference between the import duty of crude palm oil and RBD palmolein to 15 percent.

Meanwhile, cotton washed prices at Saurashtra were Rs 1,240 to 1,245 today at Rs 1,225 to 1,235 while single oil prices were calm. In the Mumbai market, the price of single oil was Rs.1530 and the price of cottonseed oil was Rs.1320. Soybean oil prices increased to Rs.1320 for digum and Rs.1335 for refined.

Mustard prices increased to Rs.1430 and refined to Rs.1460. The price of sunflower was reduced to Rs.1450 after refund. The spot price of divel rose by Rs.3 while the spot price of castor rose by Rs.15 per kilo.

In the castor futures market, prices were raised by Rs.20 to Rs.25. However, castor oil prices were Rs.100 per ton lower in Mumbai market today, while soyabean prices rose by Rs.250-300 per ton. The price of cotton boll increased by Rs.1500 per ton.

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