Singoil prices tumbled further behind Saurashtra

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The slump in the global edible oil market continued as crude oil prices fell


MUMBAI: A general depression continued in the prices of various domestic and imported edible oils in the Mumbai oilseeds market today. Amid falling prices, buyers were adopting a wait-and-see policy. Saurashtra markets were showing a new surge in prices. World market news was also showing further slowdown. In the global market today, palm oil futures in Malaysia were tipped to fall further by 139 to 141 points. There, palm product prices were minus 7.50 to 12.50 dollars.

The fall in crude oil prices in the world market today had a negative effect on the global edible oil prices. In the agricultural markets of America today, soybean oil prices were talking 60 points lower than the projection. Meanwhile, at home in Saurashtra, single oil prices were higher at Rs 1,550 and 15 kg at Rs 2,500. The prices of Saurashtra cotton washed fell further today to around Rs.820.

In Singdana, the market was eyeing the new arrivals of the summer crop. After South India and West Bengal and Orissa, now in Gujarat and Rajasthan also there were signs of new incomes of the summer crop of Singdana.

Meanwhile, in the Mumbai spot market today, the price of 10 kg single oil fell further to Rs.1580. While the price of cotton oil fell further to Rs.890. The price of Mumbai-based palm oil fell further today to within Rs.850 and was quoted at Rs.845 to 847.

The falling market also slowed down new business. After trading between Rs 855 and 860 on Monday, Mumbai imported palm oil left market players stunned as the price dipped below Rs 850 today. Meanwhile, Crude Palm Oil CPO Kandla fell to Rs.835 today. The prices of Mumbai soybean oil fell to Rs.840 for digum and Rs.900 for refined. While the price of sunflower fell to Rs.830 and that of refined was Rs.900 to 905.

The price of Mumbai mustard oil was Rs.990 and refined was Rs.1020. Mumbai Diwali spot prices today, however, showed a slow recovery of Rs.3 from a lower head. While the current castor bean prices increased by Rs.50 per kg.

Sources of the Singdana market said that despite the fall in the price of Singdana, market prices remained firm amid exporters' buying in Singdana. Prices in the Navi Mumbai Singdana market today were being quoted as high as Rs.100 per kilo. Castor bean prices rose by Rs 40 to 50 per tonne in the Mumbai oil market, while soybean oil prices remained soft at Rs 300 to 400 per tonne.

The price of cotton boll increased by Rs.700 to Rs.800 per ton. While other laps remained silent. Soybean income has increased by 50 thousand times in Madhya Pradesh and 50 thousand times in Maharashtra. In Madhya-Pradesh, prices were Rs.4950 to Rs.5150. In Navi Mumbai Singdana Bazar today, the price of bold goods was Rs.11200 to 12400 per kilo while the price of 50-60 count was Rs.12600 and the price of 60-70 count was Rs.11900 and the price of 70-80 and Rs.12100 of 80-90 was Rs. .11200 were the directions being spoken.


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