Singoil falls behind Saurashtra: Cotton oil rises

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MUMBAI: In the Mumbai oil-seeds market today, Singoil prices remained on the decline behind Saurashtra, while cottonseed oil prices recovered from the shock and went higher again. As the demand for imported edible oils also decreased, the prices started to rise again in the world market. There were indications that the price of soybean oil in America increased by 60 to 65 points overnight.

In Saurashtra, single oil prices fell to Rs.1500 and 15 kg to Rs.2400, while the price of Saurashtra cotton washed stopped falling to Rs.1235 to Rs.1250. In the Mumbai spot market today, the price of 10 kg of castor oil fell to Rs.1540 while that of cottonseed oil increased to Rs.1310.

The price of imported palm oil increased to Rs.950. Sources of the market said that there was a trade of about 700 to 800 tonnes in imported palm oil at the head of Rs.950 for various deliveries till December 5th late on Friday and Saturday together.

Meanwhile, in Mumbai-Maharashtra, as the food safety issue escalated, there were instructions to raise the matter before the Chief Minister of Maharashtra by the Chamber of Commerce. Questions were also presented to the Speaker of the Legislative Assembly. If there is no solution to this question, the traders were instructed to go on a hunger strike and strike.

Meanwhile, the price of soybean oil in the Mumbai market was Rs.1310 for digum and Rs.1335 for refined. The price of sunflower refined was Rs.1480 and the price of mustard was Rs.1420 and the price of refined was Rs.1450. The price of crude palm oil CPO kandla was increased to Rs.850. A slow decline was observed in the prices of Mumbai present divel and present castor.

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