look news india
Mumbai: Amid the holiday mood, new business took place in the Mumbai oil-oilseeds market today. Prices of various domestic and imported edible oils remained soft overall. Saurashtra markets remained soft. The price of Saurashtra Cotton Wash was Rs 915 to Rs 920 and today it was indicated to be Rs 905 to Rs 910. The price of Saurashtra single oil was Rs 1460 and the price of 15 kg was Rs 2340.
The effective import duty on crude palm oil has reduced while the duty on RBD palmolein and soya oil has increased.
There were reports of changes in the tariff value used as the benchmark for calculating import duty on edible oils imported into the country and subsequently there were also reports of changes in the effective import duty on imported edible oils. The tariff price of crude palm oil CPO has been reduced from $952 to $944, while the tariff price of RBD palmolein has been increased from $962 to $972 and the tariff price of soyabean oil has been increased from $950 to $959. Due to this, the effective import duty of CPO has reduced by Rs 37 per tonne, while the effective import duty of RBD palmolein has increased by Rs 116. And the effective import duty of Soyatel Digam has increased by Rs 42, market experts said.
Meanwhile, imported palm oil prices remained sluggish at Rs 890-895 per 10 kg in Mumbai spot market today. The price of cottonseed oil was trading at Rs 980 against Rs 985. Single oil prices rose above Rs 1500, while domestic and imported edible oils prices were also seen hitting narrow fluctuations overall. Meanwhile, various delivery prices in Mundra-Hazira ranged from Rs 900 to Rs 910 for palm oil, Rs 900 to Rs 910 for soybean oil and Rs 910 for sunflower. The price of refined soybean oil in Madhya Pradesh was Rs 890 to Rs 905.
At Navi Mumbai port, prices of various shipments of sunflower were being quoted at Rs 860 to Rs 870. In Gondal, the price of washed cotton was Rs 910 to 920 and the price of refined cotton was Rs 950 to 955.