Low chances of rise in oil market

Mustard oil - no possibility of further increase in Mustard oil prices improved by Rs 100 to Rs 11,000 per quintal due to decrease in Haryana sales and lower demand. In the mandis of Haryana, its price remained stable at Rs 10,850 per quintal. In Jaipur, the price of raw ghani mustard oil was Rs.11000 per quintal. Looking at the supply and demand, there is no possibility of further increase in this in the coming days, the market will continue to move in the recession of Rs.100/200. Chances of rise in soya oil are less Soya refined prices declined by Rs.50 to Rs.10,650 per quintal due to bad news from abroad and weak demand. Due to selling by importers and weak demand, the price of soya refined in Kandla was quoted at Rs 10,250 per quintal. Due to sluggish demand in the mandis of Maharashtra, Madhya Pradesh, the prices of soya refined remained under pressure. There is no possibility of much change in it in the coming days. The market will keep moving between the ups and downs of Rs 100/200. Castor oil does not accelerate Castor oil prices declined by Rs.200 to Rs.14,300/14,400 per quintal due to weak demand from paint manufacturers. Its rate was quoted at Rs.13,600/13,700 per quintal in the mandis of Gujarat. In view of the softening trend in castor and the recent decline, there is no possibility of a rise in it in the coming days, the market may decline further.

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