Imported deficit oil lifted the world market and the dollar

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Mumbai: Prices of imported edible oils rose behind the world market in the Mumbai oilseeds market today. As demand also increased, 500 to 600 tonnes of imported palm oil was traded today at Rs.925 per 10 kg at Rs.930 in various deliveries. There was news that global edible oil prices rallied from the lows amid short covering amid an oversold market in the global market and indications of adverse weather in Argentina.

Malaysia palm oil futures rose by 138 points while US crude oil prices rose by 219 points overnight and were projected to increase by 70 to 75 points plus today. The price of imported palm oil rose to Rs.924 per 10 kg in the Mumbai spot market. While crude palm oil CPO kandla price increased to Rs.825.

Mumbai Singoil prices were Rs.1540. While the price of cottonseed oil was Rs.1215. Saurashtra was quiet at Singtel Vadhya Mathal. While the price of Saurashtra cotton washed was Rs.1160 to Rs.1165 to Rs.1170.

Meanwhile, in the Mumbai spot market today, soybean oil prices rose to Rs.1125 for digum and Rs.1215 for refined. The price of sunflower refined was Rs.1330 and the price of mustard was Rs.1370 and refined was Rs.1400. Spot prices of Mumbai diwali fell by Rs 4 today while spot castor prices were Rs 20 per kilo lower.

In the Mumbai khol market, the price of castor khol fell by Rs.200 per ton. While the prices of soyabean, sunflower and cotton were being quoted as high as 250 to 500 per ton. Other laps were quiet. In the castor futures market today, the price was trading Rs.20 to Rs.25 lower. New cotton receipts today all India came to 1 lakh 10 to 11 thousand bales.

The income of mustard was 85 thousand times in Rajasthan and 2 lakh 30 thousand times in all India. Prices in Rajasthan were Rs.6675 to Rs.6700. In the overnight trade in American agricultural markets, soybean prices fell by 230 to 235 points, while soybean oil prices fell by 230 to 235 points, while soybean oil prices rose.

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