After rice, now there is widespread talk of banning the export of rice bran

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Mumbai: After the Indian government recently banned the export of rice, now there is news that the export of rice bran has also been banned till November 2023. According to The Solvent Extractors Association of India, after years of hard work, the exporters of India have created an export market for India's rice bran in the world market, and now the government has suddenly stopped such exports, and the years of hard work of the exporters have been reversed.

In the Mumbai oil-seed market today, the prices of Singoil rose again after digesting the shock. Cottonseed oil was also firm. However, prices of imported edible oils remained soft behind the global market. In the overnight trade in American agricultural markets, the price of soy oil fell by 100 to 105 points.

Soybean prices fell by 450 to 455 points while soybean prices were tipped to fall by 90 to 95 points overnight. World market experts were showing the possibility of the palm oil markets in Malaysia opening lower on Monday due to the collapse of soybean oil prices in the world market. Meanwhile, at home in Saurashtra, single oil prices were Rs.1880 to 1900 and cotton washed prices were Rs.955 to 960.

In the Mumbai market, the price of 10 kg of singlet oil was Rs.1860 and Rs.1880 while the price of washed cotton was Rs.1010. However, the prices of Mumbai imported palm oil fell from Rs.892 to Rs.895 to Rs.885 to 890 today. New trades were born. Crude palm oil CPO kandla prices stood at Rs.830 against Rs.835.

The price of sunflower in Mumbai market was Rs.940 and the price of refined was Rs.985. Market sources were indicating that sunflower market inflows have firmed up and market prices are likely to go higher. The price of mustard mustard oil was Rs.1110 and refined was Rs.1140. The spot price of Mumbai diwali rose by Rs.3 per 10 kg today while the spot price of castor rose by Rs.15 per kg.

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