MARKET DEVELOPMENT
Cautious Sentiment in Edible Oils
Cautious Sentiment in Edible Oils
17/04/2013 (Hindu Business Line) - Edible oils witnessed steady to weak trend on Tuesday on routine demand.
Flat closing of Malaysian palm oil and weak domestic soyabean oil futures with thin volatility kept overall sentiment calm and cautious.
Ruchi sold 750-800 tonnes palmolein at Rs 511-513 and 80-100 tonnes soyabean refined oil at Rs 675 for delivery up to May. Liberty quoted palmolein at Rs 511-514, super palmolein Rs 545 and sunflower ref oil Rs 780. Ruchi quoted palmolein at Rs 513 Patalganga, soyabean ref oil Rs 675 and sunflower ref oil at Rs 771; Allana super palmolein at Rs 545.
On the National Commodities and Derivatives Exchange, soyabean ref oil May futures dropped to Rs 698.50 (Rs 703.40), June declined by Rs 5 to Rs 684.15 (Rs 689.15) and July was lower by Rs 4.85 to Rs 676.10 (Rs 680.95).
In Malaysia BMD, crude palm oil May futures settled at MYR 2,284 (MYR 2,280), June at MYR 2,297 (MYR 2,293) and July at MYR 2,301 (MYR 2,301) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,200 (1,210), soya refined oil 675 (679), sunflower exp. ref. 685 (690), sunflower ref. 775 (775), rapeseed ref. oil 710 (710), rapeseed exp ref. 680 (680), cottonseed ref. oil 645 (645) and palmolein 510 (510).
Vikram Global Commodities, Chennai, quoted Malaysian super palmolein at Rs 550 ex-Chennai; $913 CIF JNPT April delivery; $910 CIF JNPT May delivery; $912 CIF, Haldia April delivery; $910 CIF Haldia May delivery in 10-12 days.
Flat closing of Malaysian palm oil and weak domestic soyabean oil futures with thin volatility kept overall sentiment calm and cautious.
Ruchi sold 750-800 tonnes palmolein at Rs 511-513 and 80-100 tonnes soyabean refined oil at Rs 675 for delivery up to May. Liberty quoted palmolein at Rs 511-514, super palmolein Rs 545 and sunflower ref oil Rs 780. Ruchi quoted palmolein at Rs 513 Patalganga, soyabean ref oil Rs 675 and sunflower ref oil at Rs 771; Allana super palmolein at Rs 545.
On the National Commodities and Derivatives Exchange, soyabean ref oil May futures dropped to Rs 698.50 (Rs 703.40), June declined by Rs 5 to Rs 684.15 (Rs 689.15) and July was lower by Rs 4.85 to Rs 676.10 (Rs 680.95).
In Malaysia BMD, crude palm oil May futures settled at MYR 2,284 (MYR 2,280), June at MYR 2,297 (MYR 2,293) and July at MYR 2,301 (MYR 2,301) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,200 (1,210), soya refined oil 675 (679), sunflower exp. ref. 685 (690), sunflower ref. 775 (775), rapeseed ref. oil 710 (710), rapeseed exp ref. 680 (680), cottonseed ref. oil 645 (645) and palmolein 510 (510).
Vikram Global Commodities, Chennai, quoted Malaysian super palmolein at Rs 550 ex-Chennai; $913 CIF JNPT April delivery; $910 CIF JNPT May delivery; $912 CIF, Haldia April delivery; $910 CIF Haldia May delivery in 10-12 days.