Saurashtra bounces back in cottonseed oil prices

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MUMBAI: Prices of various imported edible oils rose behind the global market in the Mumbai oil-seeds market today. Among domestic edible oils, cottonseed oil prices rebounded behind Saurashtra while Singoil remained calm.

About 300 to 400 tonnes of imported palm oil was traded at Rs.960 to 965 per 10 kg for various deliveries. Late in the evening, the refineries increased the price to Rs.968.

The price of Malaysia palm oil futures rose by 100 points in the world market today. After the price of America Soyatel increased by 84 points overnight, the price remained five points plus in the projection today. Meanwhile, cotton washed prices in Saurashtra rose to Rs.1245 from Rs.1240 today. However, the prices of Saurashtra single oil were calm today at Rs.1500 and Rs.2400 for 15 kg.

The price of cottonseed oil rose to Rs.1310 in the Mumbai spot market. While Singoil prices were calm at Rs.1530. The price of mustard was Rs.1420 and refined was Rs.1450. Crude palm oil CPO kandla prices were trading at Rs.885 against Rs.875.

Meanwhile, in the Mumbai spot market, the prices of soybean oil fell by Rs.1310 for digum and rose to Rs.1325 for refined. Refined sunflower prices increased to Rs.1325. Refined sunflower prices were Rs.1460.

In the castor futures market today, the price was trading at Rs 20 to 25 per kilo. Castor bean prices in Mumbai fell by Rs.25 while Diwali prices remained soft by Rs.5 per 10 kg.

In the Mumbai khol market today, the price of a tonne of Singkhol broke Rs.1000. When the price of sunflower seeds was increased by Rs.1000. Soybean prices were Rs.500 soft. The price of castor bean decreased by Rs.400. Other laps were quiet.

The bullish effect on the global market was seen today as there were rumors that the ratio of local supply to export in palm oil by Indonesia will be reduced from nine to one to five to one. Soybean income at home was 1 lakh 50 thousand times in Madhya Pradesh and 2 lakh 10 thousand times in Maharashtra.

In Madhya-Pradesh the prices were Rs.5350 to Rs.5500. Today, the income of mustard in Rajasthan was 1 lakh 15 thousand times and all India income was 2 lakh 75 thousand times. Prices in Rajasthan were Rs.6950 to Rs.6975. In the overnight trade in the United States, there was news of a fall in the prices of soybeans and soybeans.

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