MARKET DEVELOPMENT
Palmolein, Soya Oil Rise, Tracking Global Market
Palmolein, Soya Oil Rise, Tracking Global Market
27/04/2013 (Hindu Business Line) - Edible oil prices ruled firm on Friday. Imported palmolein and soyabean oil rose by Rs 2 and Rs 10 each tracking firm foreign market and decline in soyabean arrivals in Madhya Pradesh.
Sunflower refined oil also increased by Rs 10 while cotton refined oil inched up by Rs 4 for 10 kg. Groundnut and rapeseed oils ruled unchanged.
Local refineries have raised palmolein rates and soyabean oil by Rs 3-5 tracking firm foreign markets. Due to slack demand, merely 150-200 tonnes palmolein were traded at Rs 508 in resale for ready delivery. Arrivals of soyabean in Madhya Pradesh declined to 10,000 bags. Mandi price increased by Rs 25 to Rs 3,900-3,950 and by Rs 50 to Rs 4,000-4,050. Mustard arrivals were 4.65 lakh bags and its prices were Rs 3,350-3,625. Liberty quoted palmolein Rs 513-516, super palmolein Rs 545 and sunflower refined oil Rs 775. Ruchi quoted palmolein at Rs 517 ex-Patalganga, Rs 510 ex-JNPT and soyabean refined oil Rs 675.
Allana quoted super palmolein at Rs 545. Resellers quoted palmolein at Rs 508-509.
In Saurashtra – Rajkot, groundnut oil declined by Rs 30 to Rs 1,870 (Rs 1,900) for telia tin and by Rs 10 to Rs 1,220 (Rs 1,230) for loose (10 kg).
On National Commodities and Derivatives Exchange, soyabean refined oil May futures were higher at Rs 723.35 (Rs 716.90); June Rs 693.10 (Rs 685.95) and July was Rs 675.70 (Rs 669.85).
In Malaysia BMD, crude palm oil’s May futures settled lower at MYR 2,301 (MYR 2,310); June at MYR 2,335 (MYR 2,322) and July at MYR 2,316 (MYR 2,309) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,210 (1,210), soya refined oil 675 (665), sunflower exp. ref. 680 (680), sunflower ref. 775 (765), rapeseed ref. oil 693 (693), rapeseed expeller ref. 663 (663) cottonseed ref. oil 648 (644) and palmolein 510 (508).
Sunflower refined oil also increased by Rs 10 while cotton refined oil inched up by Rs 4 for 10 kg. Groundnut and rapeseed oils ruled unchanged.
Local refineries have raised palmolein rates and soyabean oil by Rs 3-5 tracking firm foreign markets. Due to slack demand, merely 150-200 tonnes palmolein were traded at Rs 508 in resale for ready delivery. Arrivals of soyabean in Madhya Pradesh declined to 10,000 bags. Mandi price increased by Rs 25 to Rs 3,900-3,950 and by Rs 50 to Rs 4,000-4,050. Mustard arrivals were 4.65 lakh bags and its prices were Rs 3,350-3,625. Liberty quoted palmolein Rs 513-516, super palmolein Rs 545 and sunflower refined oil Rs 775. Ruchi quoted palmolein at Rs 517 ex-Patalganga, Rs 510 ex-JNPT and soyabean refined oil Rs 675.
Allana quoted super palmolein at Rs 545. Resellers quoted palmolein at Rs 508-509.
In Saurashtra – Rajkot, groundnut oil declined by Rs 30 to Rs 1,870 (Rs 1,900) for telia tin and by Rs 10 to Rs 1,220 (Rs 1,230) for loose (10 kg).
On National Commodities and Derivatives Exchange, soyabean refined oil May futures were higher at Rs 723.35 (Rs 716.90); June Rs 693.10 (Rs 685.95) and July was Rs 675.70 (Rs 669.85).
In Malaysia BMD, crude palm oil’s May futures settled lower at MYR 2,301 (MYR 2,310); June at MYR 2,335 (MYR 2,322) and July at MYR 2,316 (MYR 2,309) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,210 (1,210), soya refined oil 675 (665), sunflower exp. ref. 680 (680), sunflower ref. 775 (765), rapeseed ref. oil 693 (693), rapeseed expeller ref. 663 (663) cottonseed ref. oil 648 (644) and palmolein 510 (508).