Narrow fluctuations between the closed-wing fan trade in oilseeds
The Mumbai Oilseeds Market was officially closed today in the wake of Eid and Bank Holiday. In the closed market, private trade was in full swing and prices of various domestic and imported edible oils were fluctuating. World markets today saw news that Malaysian palm oil markets as well as US agricultural markets were closed due to Eid and Memorial Day.
Palm oil was trading at Rs 708 per 10 kg in the Mumbai spot market today. The new demand was winged. Cingulum oil prices were quiet around Rs 1,430. Meanwhile, according to sources in the Navi Mumbai Peanut Market, groundnut prices in the Navi Mumbai market were higher today after various producers' groundnut production slowed down due to new summer crop inflows.
The price of 1 quintal of groundnut in Navi Mumbai market is Rs. 8,500 to Rs. 9,500 per variety of bold malo and Rs. 10,300 for 50-60 count, Rs. Were speaking. However, local demand for groundnuts has been slowing down and scattered overseas trade has been reported from the Chennai port. Palm oil prices stood at Rs 710 on May 30, subject to lifting.
The prices of groundnut oil were Rs 1,350, cotton washed Rs 755 to Rs 760 and cottonseed oil Rs 800 to Rs 805. Sunflower prices at JNPT ranged from Rs 855 to Rs 860 for June delivery and Rs 865 for July delivery. At Patalganga, palm oil was trading at Rs 710, while Kandla soyoil refined was trading at Rs 768 plus for delivery from May 28 to June 5. There was news that Malaysian markets would be closed for two days.
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