look news india
Mumbai: Slight fluctuations in edible oil prices continued in the Mumbai oilseeds market today. New business was slow. In Saurashtra, single oil prices were at Rs 1425-1450 while cotton washed prices were at Rs 1190-1200. The price of Saurashtra cotton refined was Rs 1250, the price of palm oil was Rs 1335 and the price of soya oil refined was Rs 1235 to 1240.
In Mundra-Hazira, various delivery prices were at Rs 1270 to Rs 1280 for soya oil and Rs 1380 to Rs 1390 for sunflower. In Hazira, the ready price of cotton refined was Rs 1240 and forward was Rs 1245. In the current market of Mumbai, the price of devel increased by Rs 3 per 10 kg and the daily price increased from Rs 1287 to Rs 1307.
Whereas in Mumbai the price of castor beans remained soft at Rs 15 per kg. There was news that the government has increased the tariff value of various edible oils imported into the country and due to this the effective import duty of edible oils has increased, market experts were saying.
Such tariff value is used as a benchmark for calculating import duty. The tariff price of crude palm oil CPO has increased from $1119 to $1158, while the tariff price of RBD palmolein has increased from $1132 to $1177 and the tariff price of soyabean oil has increased from $1117 to $1125.
As a result, the effective import duty of CPO has increased by Rs 919 per tonne, while experts were saying that RBD Palmolein has increased by Rs 1378 and Soyatel Degum by Rs 188.