Mixed Weather in Edible Oils: Soybean, Soybean Oil Prices Raised in World Market

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- Prices in Divel and Castor market were seen under continuous pressure

MUMBAI: The Mumbai oilseeds market witnessed a mixed weather today with the prices of various edible oils trading in one-sided narrow range. New demand was slow and trades were scattered. In the markets of Saurashtra, the price of Singoil was 1550 to 1600 per 10 kg, while the price of 15 kg was Rs. 2500 to 2550.

The prices were seen to stabilize at the head of the decline. The price of Saurashtra cotton washed was Rs.825 to Rs.835. The price of Saurashtra cotton oil refined was Rs.885 and the price of soybean oil refined was Rs.880 to 885 and the price of palm oil was Rs.862. After the new arrivals of summer crops in Singdana started from Andhra Pradesh, Karnataka and Tamil Nadu towards West Bengal and Orissa, now there were signs of such new arrivals starting in Rajasthan and Gujarat as well. Now the possibility of increasing such income further was being discussed in the market. However, local demand in Singdana has been slow. But the demand of exporters in the market has been seen frequently.

Meanwhile, the price of 10 kg single oil in the Mumbai spot market today was Rs.1615. While cotton oil prices were Rs.885 to 890. The difference between Saurashtra prices and Mumbai prices was negligible. The price of Mumbai imported palm oil was being quoted at Rs.870. The price of sunflower was Rs.845 and the price of refined was Rs.925 with Rs.930. Soybean oil prices were Rs.905 against refined Rs.910. While the price of Digum was Rs.845 from Rs.850. The spot price of Mumbai diwali fell by Rs.8 per 10 kg today while the spot price of castor bean touched Rs.5635 per kg from Rs.5675 per kg. In the Mumbai khol market, the price of single khol decreased by Rs.400 to 500 while the price of soya khol increased by Rs.200 to 300. The prices of castor pods remained soft at Rs.40 to Rs.50 per ton. The prices of cotton gin and sunflower gin were calm today.

Meanwhile, direct delivery prices at Navi Mumbai port stood at Rs.875 per weekly delivery of RBD palm. While the price of thick goods was Rs.860 for 3 to 4 days delivery. Indore Soyatel refined prices were indicated to be Rs.900 to Rs.910.

At Patalganga, the price of soybean oil was Rs.920 for delivery till 5th June and the price of sunflower refined was Rs.930 till 5th June. Meanwhile, in the world market, overnight trade in the American agricultural markets indicated that soybean prices and soybean oil prices remained bullish.

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