Edible oils prices spurt on bullish cues

Our Correspondent Indore | Updated on September 17, 2020 Published on September 17, 2020

Despite subdued demand, oils at the mandis across Madhya Pradesh and elsewhere in the country continued to witness a surge in its prices on strong global cues, rise in futures and increased demand.

Besides, reports of damage to soyabean crops in Madhya Pradesh has also added to the rally in soya oil with soya refined in Indore today being quoted at ₹925-30 for 10 kg, while soya solvent ruled at ₹870-75.

Sunflower expeller (Mumbai) was quoted at ₹1,200 (+20), sunflower refined (Mumbai) at ₹1,250 (+40).

Groundnut oil (Indore) was quoted higher at ₹1,310-30 on improved buying, groundnut oil (Bombay) ruled at ₹1,300, while groundnut oil (Gujarat) fetched ₹1,275. Cotton refined (Gujarat) ruled at ₹836, palm oil (Indore) today rose to ₹920-25, while palm oil (Bombay) ruled at ₹970 for 10 kg.

Mustard seeds traded low on decline in buying support at higher rate with mustard seeds (Nimar) today being quoted at ₹4,650 a quintal, while mustard seeds (Jaipur) ruled at ₹5,465-79. Arrival of mustard seeds across the country today was recorded at 1.50 lakh bags. Rajasthan led the arrival with 85,000 bags, followed by Uttar Pradesh with 20,000 bags, Haryana/Punjab - 10,000 bags, Gujarat - 5,000 bags, while 25,000 bags were offloaded elsewhere in the country.

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Published on September 17, 2020
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