Continued retreat in various domestic and imported edible oils

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Further decline in the price of edible oils in the world market

Castor futures fall below Rs 5,800 as selling increases: Washed cotton prices come under pressure in Saurashtra

MUMBAI: Soft weather continued in the prices of various domestic and imported edible oils in the Mumbai oilseeds market today. New demand was slow. New businesses were scattered. World market news was showing further decline in prices. The weather in Saurashtra markets was also subdued. In Singdana, after South India, the market was eyeing the new arrivals of Gujarat and Rajasthan.

In the world market today, palm oil futures in Malaysia were reported to have declined by 30 to 35 points in near delivery and 50 to 55 points in distant delivery. There, however, the prices of palm products increased by 5 to 7.50 dollars today. Meanwhile, at home in Saurashtra, cotton washed prices were trading at Rs.840 against Rs.850. The price of Saurashtra single oil was Rs.1600 to 1625 and the price of 15 kg was Rs.2550 to 2580.

In the Mumbai spot market today, the price of 10 kg of single oil was Rs.1625 to Rs.1660. The price of cottonseed oil was Rs.935 to Rs.930. Market players were stunned as the price of Mumbai imported palm oil fell further from Rs.893 to Rs.895 to Rs.885 today. New demand was slow. A falling market in palm oil saw bourses adopt a wait-and-see policy. Experts were also showing the possibility of increasing demand if the market stabilizes. Meanwhile, crude palm oil CPO kandla prices stood at Rs.850 against Rs.855. The prices of Mumbai soybean oil fell to Rs.860 for digum and Rs.910 to 915 for refined. The price of Mumbai sunflower was reduced to Rs.855 and that of refined was Rs.945. The price of mustard was Rs.1000 and refined was Rs.1030. Mumbai Diwali spot prices were showing a slow decline today. The current price of castor was also Rs.5875 against Rs.5875 per kg. A slow decline in prices continued in the castor futures market today. Sources of the futures market said that in the castor futures market today, the futures price fell by Rs.65 to 70 per kilo and fell within the level of Rs.5800 to around Rs.5780 to 5785. In the Mumbai khol market, the price of castor khol fell by Rs.100 per ton today. While the prices of Singkhol remained soft at Rs.500 per ton.

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