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Edible Oil Prices in Indore Improve Due to Increase in Marital Demand

oil price in indore

Indore: Edible oil prices in Indore, India have been on the rise due to an increase in marital demand. According to market reports, soya oil in Indore improved to Rs 1225-1230 per ten kg, while groundnut oil also saw an improvement, reaching Rs 1620-1630 per ten kg.

The trend is not limited to Indore, as other Indian markets are also seeing similar increases in prices due to the rise in marital demand for edible oils. Additionally, the Indonesian government is planning to introduce a palm oil benchmark price by June, which may also impact prices in the region.

On the global front, futures for palm oil moved higher for the second day in a row, tracking rival edible oils that remained firm. However, Malaysian palm oil product exports for January 1-15 fell, with shipments to India and China down between 28 percent and 37 percent from the same period in December.

Also Read: Indore Mandi Market witnesses sharp increase in wheat prices

Despite the increase in prices for some oils, there is a softening trend for soybean and oil, with weak demand in the market. This has also affected the prices of oilseeds such as mustard and cottonseed cake.

It is important to note that the information provided is based on market reports and trends and should not be taken as financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.

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