Tuesday 13 October 2020

How are the prices of Oil Crops increasing in the Market?

Oil Prices Update

Mustard oil oilseed prices in the local oilseed market on Monday( 12-10-2020) amid increasing demand from stockists during the festive season

. consistent with local market experts, the costs of soybean, CPO, and vegetable oil were higher. Prices of oil, oilseeds closed at the eastern level.

Within the overseas markets, the Malaysia Exchange was up about 2.5 percent and therefore the Chicago Exchange was up nearly half a percent. Prices of soybean seeds and palm oil are being offered by the speculators, but there's less demand within the market. Soybean oils, palm oil prices recovered, while soybean seeds and loose prices closed at a loss of Rs 10 each.

Palm oil prices showed improvement as production was affected because of heavy rains in Malaysia. Sources said that Hafed, a cooperative organization, has received increased bids for the sale of mustard at Rs 5,044 on Monday, rather than Rs 5,001 earlier, and Nafed received Rs 5,111 per quintal from the sooner Rs 5,101. 

Sources said that the govt should refrain from selling mustard during a stalled market as festive demand will gradually increase and oil mills and traders don't have mustard stock. aside from this, the forthcoming crop of mustard is about five months. When the green vegetable arrivals in the market the demand for mustard oil also increases. In Haryana state, the stockist alone has bid for the acquisition of 5,20,000 quintal mustard to Hafed and Nafed.

Due to strong spot demand, the value of cottonseed oil cake rose by Rs 18 to Rs 1,897 per quintal in futures trade on Monday. At NCDEX, the delivery price of cottonseed oil cake in December was up by Rs 18, or 0.96 percent, to Rs 1,897 per quintal with a turnover of 23,000 lots. Market sources said that the rise within the size of their trades by traders, mainly because of increased demand from husbandry companies, mainly led to an increase in the cotton futures prices here.

Refined soya oil futures improve on rising demand On Monday, the worth of refined soya oil rose by Rs 10.5 to Rs 937.4 per 10 kg in futures trade as speculators increased the dimensions of their deals. 

At NCDEX,  soya oil( refind) prices for delivery on October 2020 rose by Rs 10.5, or 1.13 percent, to Rs 937.4 per 10 kg with a turnover of 14,560 lots. Market persons said refined soya oil prices improved in futures trade as traders increased the size of their deals.

Wholesale Price in Oil Oilseeds Market) Mustard Oilseeds - 5,570 - 5,625 (42% Condition Price) Rs. Peanut seed - Rs 5,015- 5,065. groundnut oil Mill Delivery (Gujarat) - Rs 12,500. Mustard Oil Dadri - Rs 11,000 per quintal. Oil Mill Delivery Oil - Rs 11,000 - 15,000. soyabean oil Mill Delivery Delhi - Rs 10,200. Soybean Mill Delivery Indore - Rs 9,950. soyabean oil Degum - Rs 9,150. CPO X-Kandla - Rs 8,100. Cottonseed Mill Delivery (Haryana) - Rs 9,100. palm oil RBD Delhi - Rs 9,350. palm oil Kandla - Rs 8,550 (without GST). Soybean Oilseed Rs 4,045 - 4,070 ( Mill Delivery) ) in Loose Rs 3,895 - 3,945. Maize Khal (Sariska) - Rs 3,500.

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