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Weak Festival Demand, Adequate Availability of Imported Stock Stalls Uptrend in Soy, Other Oils in Indore

13 Aug 2020 10:13 pm
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Indore ( Commodities Control) - Weak physical demand amid festive season and ample availability of cheap imported oil have arrested uptrend in soy and other oils in Indore mandis.

Soy refined Indore was quoted at Rs 860-62 for 10 kg, while soy solvent ruled at Rs 815-20. Amidst arrivals of 40,000 bags in mandis across Madhya Pradesh, soybean was quoted at Rs 3,600-Rs 3,700 a quintal. Plant deliveries of soybean were also quoted lower at Rs 3,725-Rs 3,800/quintal. Palm oil (Indore) was quoted at Rs 860-62, down Rs 10 from last week, while palm oil (Bombay) declined to Rs 817. Cotton oil (Gujarat) ruled flat at Rs 825. Groundnut oil (Indore), on the other hand, was quoted lower at Rs 1,240-60, while groundnut oil (Bombay) ruled at Rs 1,250. Mustard seeds ruled higher on weak availability with mustard seeds (Nimar) today being quoted Rs 4,700-Rs 4,750 a quintal, while mustard seeds cake Jaipur ruled at Rs 2,145-50. The 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 UP at 20,000 bags, MP - 10,000 bags, Gujarat and Haryana-Punjab - 5,000 bags each, while 25,000 bags were offloaded elsewhere in the country.

       
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