Mumbai: Singoil continued its slow rise in the Mumbai oil-seed market today, while Saurashtra lagged behind in cottonseed oil. A decline was seen in the prices of various imported edible oils. World markets were soft. Meanwhile, Saurashtra Cotton Wash prices fell to Rs 920 from Rs 910. While Saurashtra single oil prices increased to Rs 1485 and 15 kg to Rs 2375. In the world market, palm oil futures in Malaysia fell by 39 points today, while US soybean oil prices remained subdued in estimates today after falling by 69 to 71 points overnight.
In the Mumbai spot market, the price of single oil stood at Rs 1525 per 10 kg, while the price of cottonseed oil was Rs 970. Imported palm oil prices fell to Rs 890 in Mumbai. New demand remained slow. Crude palm oil CPO Kandla prices also remained soft. Mumbai soybean oil prices fell to Rs 855 for degum and Rs 915 for refined. However, prices of sunflower oil and mustard oil remained calm.
Prices increased by Rs 3 on Mumbai Diwali. While the spot price of castor rose by Rs 15 per kg in the futures market, it was trading at Rs 16. Castor bean prices fell by Rs 50 per tonne in Mumbai shell market, while soybean meal prices fell by Rs 500 per tonne. At the same time, the price of sunflower seeds has increased by Rs 500 per ton. However, other laps were quieter.
Soybean income increased by Rs. 1.25 crore in Madhya Pradesh and Maharashtra. In Madhya Pradesh the prices were Rs 4500 to Rs 4750. Soybean prices fell 194 points in US agricultural markets in overnight trading, while soybean meal prices were 26 points lower. The price of palm products in Malaysia decreased by $5 to $7.50 today.
