Cottonseed oil rises : Singoil gains : Imported edible oils rise

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Mumbai: The prices of various domestic and imported edible oils rose rapidly in the Mumbai oilseeds market today. The world market had increased. At home, the markets of Saurashtra also saw a boom. In the present market of Mumbai, the price of 10 kg of single oil was Rs.1570 and Rs.1600.

The price of cottonseed oil was Rs.1235 to Rs.1260. In Saurashtra, the price rise was Rs.1575 for single oil and Rs.2510 for 15 kg and Rs.1200 for cotton washed. As the estimate of the new cotton crop in the country was 4 to 5 lakh bales lower than earlier, the market boomed.

The price of imported palm oil rose to Rs.960 in the Mumbai market. There was sporadic trading at Rs.952 to Rs.957. While few trades were done for January at Rs.965. The price of crude palm oil CPO kandla rose to Rs.860. The prices of Mumbai soybean oil increased to Rs.1200 for digum and Rs.1290 for refined. However, the prices of sunflower and mustard were calm.

In the Mumbai spot market today, the price of diwali fell by Rs.21 per 10 kg and the price of Jatwar was quoted at Rs.1445 to 1465 while the price of castor bean in Mumbai fell by Rs.105 per kg.

Castor bean oil prices fell by Rs.200 per ton in the Mumbai market today, while soybean oil prices increased by Rs.200 to 250 per ton. The price of cotton paddy was quoted as high as Rs.500 per ton. Other laps were quiet.

The price of Mumbai Coprail was Rs.1330 per 10 kg. Meanwhile, according to news from South India, the National Agricultural Co-operative Marketing Federation (NAFED) is going to start selling copra in the open market.

There were indications that the amount of copra which Nafed had bought earlier from the farmers would now be diverted to southern Badaros. Following this, there were indications that copper market prices in the southern states, particularly Kerala and Tamil Nadu, remained depressed.

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