Soymeal prices fell on hopes of increasing imports
(Gujarat News Office) MUMBAI: Prices of various domestic and imported edible oils declined in the Mumbai Oilseeds market today. Meanwhile, soybean and soymeal prices fell sharply today. Market analysts said the price came under pressure as the government allowed import of GM soymeal at six more ports. Soybean futures witnessed a 5 per cent bearish circuit today and September futures prices were quoted at Rs 6 per kg. There were indications that the spot price of soymeal in the Mumbai flour market today has come down from Rs 1,200 to Rs 1,200 per tonne to around Rs 50,000. In the Mumbai market today, the price of groundnut was quoted at Rs 1,000 per tonne. However, the price of castor meal rose by Rs 20 per tonne to Rs 200, while the spot castor price of Mumbai today fell by Rs 11 per 10 kg to Rs 12-13 per kg. While in the futures market, castor September futures prices were falling by Rs 5 to Rs 305 in the evening. Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulu...