Publish Date: | Wed, 23 Feb 2022 08:36 AM (IST)
Edible Oil Price in Indore: Indore (Naiduniya Representative). The arrival of soybean and mustard increased across the country on Tuesday. The arrival of soyabean reached about 2.5 lakh bags and about five lakh bags of mustard in the mandis across the country. Despite this, the boom in oilseeds continues. Soyabean has sold beyond 8000 in Maharashtra and is running towards 8000 in Madhya Pradesh too. The foreign market and the Russia-Ukraine crisis are fueling the boom in the oil market. Soybean production was expected to decline amid concerns about a drought in South American countries and a fall in production. Now soft oil importers from Russia-Ukraine dispute have put emphasis on soybean oil deals on the US side by stopping the Sunflower deals from Ukraine.
In such a situation, there is a strong rise in soybean oil and palm oil. Indications of strength from overseas markets and Chicago soybean futures remained bullish for the fourth consecutive session. Indonesia’s export policy has been changed, due to which the demand for palm oil is shifting to Malaysia. Chicago remains bullish on concerns over yields from dry weather in Brazil and Argentina. Due to this, KLCE is also increasing continuously due to good buying and strong exports before Ramadan.
On Tuesday, trading was seen on KLCE 134 Plus and Possession 183 Plus. Its effect has also been seen in the domestic markets and the rise in the prices of edible oils in Indore continued. In Indore, soybean oil rose by Rs 30 to Rs 1410-1412, groundnut oil rose by Rs 1410-1430 and palm oil in Indore rose by Rs 10 to Rs 1405-1410 per 10 kg. India’s edible oil imports remained tight in February due to lower supply, which is supporting the uptrend.
Loose oil (per ten kg) : Indore Groundnut Oil 1410-1430, Mumbai Groundnut Oil 1415, Indore Soybean Refined 1410-1412, Indore Soyabean Solvent 1360-1365, Mumbai Soya Refined 1375, Mumbai Palm Oil 1325, Indore Palm 1405-1410, Rajkot Telia 2210, Gujarat Loose 1375, Cottonseed oil Indore 1335-1340 Rs. Soybean DOC spot 56000 to 58500 ton.
Plant Price Soybean : Agarwal Neemuch 7250, Adani 7225, Surya 7275, Betul 7200, Ambika, 7250, Mittal 7125, Avi 7175, Prakash 7125, Idea Lakshmi 7250, Prestige 7200, Salasar 7250, Dhanuka 7250s Amrit 7250, Shanti 7250 Rs.
Cotton cake in Indore: (60 kg recruitment) without tax rate – Indore 2175, Dewas 2175, Ujjain 2175, Khandwa 2150, Burhanpur 2150, Akola Rs 3275.
Posted By: Prashant Pandey